Netflix (NASDAQ:NFLX) Releases Earnings Results

Netflix (NASDAQ:NFLX) issued its quarterly earnings data on Monday. The Internet television network reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.19), MarketWatch Earnings reports. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.62 billion. Netflix had a return on equity of 31.48% and a net margin of 11.78%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted $1.30 EPS.

Shares of Netflix stock traded up $84.57 during mid-day trading on Wednesday, hitting $586.34. The stock had a trading volume of 30,375,070 shares, compared to its average volume of 7,447,021. The firm has a 50-day moving average of $513.56 and a two-hundred day moving average of $502.65. Netflix has a 12-month low of $290.25 and a 12-month high of $593.29. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.50. The firm has a market cap of $259.04 billion, a P/E ratio of 94.45, a price-to-earnings-growth ratio of 1.86 and a beta of 0.92.

In related news, Director Jay C. Hoag sold 21,119 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $467.89, for a total transaction of $9,881,368.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rodolphe Belmer sold 2,136 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $488.52, for a total transaction of $1,043,478.72. Following the transaction, the director now directly owns 215 shares of the company’s stock, valued at approximately $105,031.80. The disclosure for this sale can be found here. In the last three months, insiders sold 460,566 shares of company stock valued at $241,501,445. Corporate insiders own 3.40% of the company’s stock.

A number of research analysts have weighed in on NFLX shares. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $685.00 price objective (up previously from $628.00) on shares of Netflix in a research report on Wednesday. KeyCorp upped their price objective on shares of Netflix from $634.00 to $650.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canaccord Genuity upped their price objective on shares of Netflix from $630.00 to $670.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upped their price target on shares of Netflix from $550.00 to $650.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Piper Sandler upped their price target on shares of Netflix from $643.00 to $652.00 in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the company. Netflix has a consensus rating of “Buy” and a consensus price target of $572.97.

Netflix Company Profile

Netflix, Inc provides subscription streaming entertainment service. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Earnings History for Netflix (NASDAQ:NFLX)

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