Netflix (NASDAQ:NFLX) Updates Q1 Earnings Guidance

Netflix (NASDAQ:NFLX – Get Rating) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.82 for the period, compared to the consensus estimate of $2.96. The company issued revenue guidance of $8.172 billion, compared to the consensus revenue estimate of $8.15 billion. Netflix also updated its Q1 2023 guidance to $2.82-$2.82 EPS.

Netflix Price Performance

Shares of NFLX opened at $342.50 on Friday. Netflix has a 52-week low of $162.71 and a 52-week high of $458.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.14 and a current ratio of 1.14. The business’s 50 day moving average price is $304.91 and its two-hundred day moving average price is $259.17. The firm has a market cap of $152.42 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 3.69 and a beta of 1.27.

Netflix (NASDAQ:NFLX – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.30). Netflix had a net margin of 16.03% and a return on equity of 27.64%. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.85 billion. During the same period last year, the firm posted $1.33 earnings per share. Netflix’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Netflix will post 10.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Cowen boosted their price objective on Netflix from $405.00 to $440.00 in a report on Friday. The Goldman Sachs Group boosted their price objective on Netflix from $225.00 to $230.00 and gave the company a sell rating in a report on Friday. Cowen set a $405.00 price objective on Netflix in a report on Friday, December 9th. Morgan Stanley boosted their price objective on Netflix from $275.00 to $300.00 and gave the company an equal weight rating in a report on Thursday. Finally, Bank of America restated a buy rating and set a $370.00 price objective on shares of Netflix in a report on Tuesday, November 15th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Netflix has an average rating of Hold and an average price target of $338.47.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dearborn Partners LLC bought a new stake in Netflix during the 3rd quarter worth approximately $218,000. Plancorp LLC increased its holdings in Netflix by 12.5% during the 1st quarter. Plancorp LLC now owns 784 shares of the Internet television network’s stock worth $294,000 after acquiring an additional 87 shares during the period. PDT Partners LLC bought a new stake in Netflix during the 2nd quarter worth approximately $351,000. Eudaimonia Partners LLC bought a new stake in Netflix during the 1st quarter worth approximately $484,000. Finally, Founders Financial Securities LLC increased its holdings in Netflix by 44.9% during the 1st quarter. Founders Financial Securities LLC now owns 1,388 shares of the Internet television network’s stock worth $520,000 after acquiring an additional 430 shares during the period. Institutional investors own 77.26% of the company’s stock.

Netflix Company Profile

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