Netflix (NFLX) Releases Quarterly Earnings, Beats Expectations By $0.04 EPS
Netflix (NASDAQ:NFLX) announced its earnings results on Monday. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.04, AmericanBankingNews.com reports. The company had revenue of $905.00 billion for the quarter, compared to the consensus estimate of $1.10 billion.
Netflix (NASDAQ:NFLX) traded up 6.42% during mid-day trading on Monday, hitting $354.92. The stock had a trading volume of 6,601,956 shares. Netflix has a one year low of $57.40 and a one year high of $336.48. The stock’s 50-day moving average is $308.6 and its 200-day moving average is $247.. The company has a market cap of $20.913 billion and a P/E ratio of 415.32.
A number of research firms have recently commented on NFLX. Analysts at Northland Securities raised their price target on shares of Netflix from $225.00 to $300.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. On the ratings front, analysts at Northland Capital Partners raised their price target on shares of Netflix from $225.00 to $300.00 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of Netflix from $80.00 to $140.00 in a research note to investors on Wednesday, October 16th. They now have an “underperform” rating on the stock. Six investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and seven have issued a buy rating to the stock. Netflix currently has a consensus rating of “Hold” and a consensus target price of $255.17.
Netflix, Inc (NASDAQ:NFLX), incorporated on August 29, 1997, is an Internet subscription service streaming television shows and movies.
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