Netflix (NASDAQ:NFLX) Announces Quarterly Earnings Results

Netflix (NASDAQ:NFLXGet Rating) announced its earnings results on Thursday. The Internet television network reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.35), RTT News reports. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.85 billion. Netflix had a return on equity of 23.58% and a net margin of 14.21%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. Netflix updated its Q1 2023 guidance to $2.82-$2.82 EPS and its Q1 guidance to $2.82 EPS.

Netflix Stock Performance

Shares of Netflix stock opened at $342.50 on Friday. The firm’s fifty day simple moving average is $304.91 and its 200-day simple moving average is $259.68. The stock has a market capitalization of $152.42 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 3.78 and a beta of 1.27. Netflix has a 12 month low of $162.71 and a 12 month high of $458.48. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.14 and a quick ratio of 1.14.

Analysts Set New Price Targets

Several research analysts have weighed in on NFLX shares. StockNews.com started coverage on shares of Netflix in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Cfra raised shares of Netflix from a “sell” rating to a “buy” rating and set a $310.00 price objective for the company in a research note on Thursday, December 29th. Evercore ISI raised their price objective on shares of Netflix from $340.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group raised their price objective on shares of Netflix from $250.00 to $350.00 in a research note on Tuesday, January 17th. Finally, Guggenheim raised their price objective on shares of Netflix from $305.00 to $375.00 and gave the company a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $338.47.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently modified their holdings of the business. Gould Capital LLC purchased a new position in Netflix in the 2nd quarter valued at $26,000. Phocas Financial Corp. purchased a new position in Netflix in the 4th quarter valued at $29,000. Yarbrough Capital LLC purchased a new position in Netflix in the 4th quarter valued at $29,000. Tevis Investment Management boosted its position in shares of Netflix by 133.3% during the 2nd quarter. Tevis Investment Management now owns 175 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Urban Wealth Management LLC purchased a new stake in shares of Netflix during the 2nd quarter worth $34,000. 77.26% of the stock is owned by institutional investors and hedge funds.

About Netflix

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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.

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Earnings History for Netflix (NASDAQ:NFLX)

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