Netflix (NASDAQ:NFLX) Announces Earnings Results, Beats Estimates By $0.77 EPS

Netflix (NASDAQ:NFLX) issued its quarterly earnings results on Thursday. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77, Briefing.com reports. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. Netflix’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $2.88 EPS.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $610.56 on Friday. The business’s fifty day moving average price is $605.77 and its two-hundred day moving average price is $511.86. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The stock has a market capitalization of $264.23 billion, a price-to-earnings ratio of 50.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NFLX. Piper Sandler lifted their price target on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Oppenheimer raised their price objective on Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research report on Monday. BMO Capital Markets restated an “outperform” rating and set a $713.00 price objective (up from $638.00) on shares of Netflix in a research report on Wednesday. Finally, Sanford C. Bernstein raised their price objective on Netflix from $390.00 to $490.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $614.75.

Insider Buying and Selling at Netflix

In other Netflix news, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock worth $151,619,811 over the last three months. Company insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several large investors have recently made changes to their positions in the company. Aspect Partners LLC bought a new stake in shares of Netflix in the fourth quarter worth about $32,000. Evermay Wealth Management LLC raised its position in Netflix by 94.9% in the 1st quarter. Evermay Wealth Management LLC now owns 115 shares of the Internet television network’s stock valued at $40,000 after buying an additional 56 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new stake in Netflix in the 4th quarter valued at approximately $42,000. KB Financial Partners LLC raised its position in Netflix by 108.5% in the 2nd quarter. KB Financial Partners LLC now owns 98 shares of the Internet television network’s stock valued at $43,000 after buying an additional 51 shares during the last quarter. Finally, Financial Freedom LLC acquired a new stake in Netflix in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Company Profile

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.