Netflix (NASDAQ:NFLX) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Netflix (NASDAQ:NFLX) issued its quarterly earnings results on Thursday. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14, Briefing.com reports. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 33.22% and a net margin of 19.54%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the company earned $3.29 EPS.

Netflix Stock Performance

Shares of Netflix stock opened at $633.34 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. Netflix has a 1 year low of $344.73 and a 1 year high of $697.49. The firm’s 50-day simple moving average is $655.73 and its 200-day simple moving average is $603.37. The firm has a market cap of $272.97 billion, a PE ratio of 43.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $38,217.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,385 shares of company stock worth $44,469,351. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NFLX shares. Rosenblatt Securities raised their target price on shares of Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a research report on Friday. Redburn Atlantic boosted their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday. Bank of America lifted their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Piper Sandler raised their price objective on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Pivotal Research lifted their price objective on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $680.76.

About Netflix

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