Netflix (NASDAQ:NFLX) Releases Q4 2024 Earnings Guidance

Netflix (NASDAQ:NFLX) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 4.230-4.230 for the period, compared to the consensus earnings per share estimate of 5.110. The company issued revenue guidance of $10.1 billion-$10.1 billion, compared to the consensus revenue estimate of $9.8 billion. Netflix also updated its FY 2024 guidance to EPS.

Analysts Set New Price Targets

Several brokerages have issued reports on NFLX. Evercore ISI lifted their target price on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday. Citigroup increased their price objective on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. TD Cowen boosted their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price target (up from $800.00) on shares of Netflix in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $739.38.

Netflix Stock Performance

NASDAQ:NFLX opened at $763.89 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix has a 52-week low of $392.26 and a 52-week high of $766.28. The firm has a market capitalization of $329.24 billion, a PE ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The stock has a 50-day simple moving average of $696.38 and a two-hundred day simple moving average of $654.66.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 earnings per share. Analysts forecast that Netflix will post 19.08 EPS for the current year.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,167 shares of company stock worth $150,492,460. Company insiders own 1.76% of the company’s stock.

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.