Wall Street analysts predict that Netflix, Inc. (NASDAQ: NFLX) will report sales of $ 7.72 billion for the current fiscal quarter, Zack reports. Eighteen analysts provided revenue estimates for Netflix. The lowest sales estimate is $ 7.66 billion and the highest is $ 7.76 billion. Netflix posted sales of $ 6.64 billion in the same quarter last year, indicating a positive growth rate of 16.3% year-over-year. The company is expected to release its next results after market close on Thursday, January 20.
On average, analysts expect Netflix to report annual sales of $ 29.71 billion for the current fiscal year, with estimates ranging from $ 29.65 billion to $ 29.75 billion. For the next fiscal year, analysts predict the company will post revenue of $ 34.02 billion, with estimates ranging from $ 32.67 billion to $ 34.93 billion. Zacks Investment Research sales averages are an average based on a survey of research analysts who provide coverage for Netflix.
Netflix (NASDAQ: NFLX) last released its quarterly results on Monday, October 18. The Internet TV network reported earnings per share (EPS) of $ 3.19 for the quarter, beating Thomson Reuters’ consensus estimate of $ 2.56 by $ 0.63. The company posted revenue of $ 7.48 billion for the quarter, compared to a consensus estimate of $ 7.48 billion. Netflix had a return on equity of 38.03% and a net margin of 17.64%. The company’s turnover increased 16.3% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $ 1.74.
Several stock analysts recently published reports on NFLX shares. Loop Capital raised its price target for Netflix shares from $ 650.00 to $ 700.00 and gave the company a “buy” rating in a report released on Monday, October 18. UBS Group raised its price target for Netflix stock from $ 620.00 to $ 720.00 and gave the stock a “buy” rating in a research note on Monday, October 18. Zacks investment research raised Netflix’s shares from a “hold” rating to a “buy” rating and set a target price of $ 656.00 for the company in a research note on Thursday, October 21. Credit Suisse Group set a target price of $ 740.00 for Netflix shares in a research note on Wednesday, October 20. Finally, KeyCorp raised its price target for Netflix stock from $ 690.00 to $ 725.00 and rated the stock “overweight” in a research report released on Monday, November 15. Three research analysts rated the stock with a sell rating, nine assigned a conservation rating and twenty-nine assigned a buy rating to the company. Based on MarketBeat data, Netflix has an average rating of “Buy” and a consensus price target of $ 668.11.
NASDAQ: NFLX opened at $ 602.44 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17, and a debt ratio of 0.97. The company has a 50-day moving average of $ 640.89 and a 200-day moving average of $ 588.52. Netflix has a one-year low of $ 478.54 and a one-year high of $ 700.99. The stock has a market cap of $ 266.85 billion, a price / earnings ratio of 54.27, a price / earnings-growth ratio of 1.86, and a beta of 0.85.
Meanwhile, director Jay C. Hoag sold 2,472 shares of the company in a transaction dated Wednesday, November 17. The shares were sold at an average price of $ 700.19, for a total trade of $ 1,730,869.68. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, CEO Theodore A. Sarandos sold 69,707 shares of the company in a transaction dated Monday, October 4. The shares were sold at an average price of $ 625.00, for a total trade of $ 43,566,875.00. Disclosure of this sale can be found here. Insiders have sold a total of 125,070 shares of the company valued at $ 79,525,491 in the past ninety days. Insiders hold 2.68% of the company’s shares.
Large investors have recently changed their holdings in the company. Magnetar Financial LLC purchased a new stake in Netflix during the second quarter valued at approximately $ 204,000. Deseret Mutual Benefit Administrators bought a new position in Netflix shares in the second quarter valued at $ 55,000. HighTower Advisors LLC increased its holdings of Netflix shares by 31.9% in the second quarter. HighTower Advisors LLC now owns 92,557 shares of the Internet TV network valued at $ 48,925,000 after purchasing an additional 22,370 shares in the last quarter. Sfmg LLC increased its holdings of Netflix shares by 1.3% in the second quarter. Sfmg LLC now owns 1,814 shares of the Internet TV network valued at $ 958,000 after purchasing 23 additional shares in the last quarter. Finally, Sandy Spring Bank increased its stake in Netflix shares by 1.7% in the second quarter. Sandy Spring Bank now owns 1,517 shares of the Internet TV network valued at $ 801,000 after purchasing 25 more shares in the last quarter. Hedge funds and other institutional investors hold 79.47% of the company’s shares.
Netflix, Inc. operates as a streaming entertainment service company. The company offers a subscription service for streaming movies and TV episodes over the Internet and sending DVDs by mail. It operates through the following segments: Home Streaming, International Streaming and Home DVD. The home streaming segment earns revenue from monthly membership fees for services that consist of streaming content for its members in the United States.
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