In the last trading session, 6.85 million shares of the Netflix Inc. (NASDAQ:NFLX) were traded, and its beta was 1.25. Most recently the company’s share price was $355.99, and it changed around -$7.02 or -1.93% from the last close, which brings the market valuation of the company to $160.82B. NFLX currently trades at a discount to its 52-week high of $379.43, offering almost -6.58% off that amount. The share price’s 52-week low was $164.28, which indicates that the current value has risen by an impressive 53.85% since then. We note from Netflix Inc.’s average daily trading volume that its 10-day average is 7.04 million shares, with the 3-month average coming to 6.66 million.
Netflix Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 3 out of 44 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 18 recommended NFLX as a Hold, whereas 21 deemed it a Buy, and 0 rated it as Underweight. Netflix Inc. is expected to report earnings per share of $2.82 for the current quarter.
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Netflix Inc. (NASDAQ:NFLX) trade information
Instantly NFLX has showed a red trend with a performance of -1.93% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 375.87 on Tuesday, 05/23/23 increased the stock’s daily price by 5.29%. The company’s shares are currently up 20.72% year-to-date, but still up 6.66% over the last five days. On the other hand, Netflix Inc. (NASDAQ:NFLX) is 8.20% up in the 30-day period. We can see from the shorts that 8.4 million shares have been sold at a short interest cover period of 1.26 day(s).
The consensus price target as assigned by Wall Street analysts is $365.37, which translates to bulls needing to increase their stock price by 2.57% from its current value. Analyst projections state that NFLX is forecast to be at a low of $215.00 and a high of $440.00. In order for the stock price to hit the forecast high, the stock would need to plunge -23.6% from its current level, while the stock would need to crash 39.61% from its current level to reach the projected low.
Netflix Inc. (NFLX) estimates and forecasts
Netflix Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 23.62 percent over the past six months and at a 12.46% annual growth rate that is well above the industry average of -12.40%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -11.90% in revenue this quarter, and will report an increase of 2.60% in the next quarter. The year-over-year growth rate is expected to be 7.10%, up from the previous year.
Consensus estimates provided by 29 financial analysts predict the company will bring in an average of $8.25 billion in revenue for the current quarter. 28 analysts expect Netflix Inc. to make $8.61 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $7.97 billion and $7.84 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 3.50%. Forecasts for the next quarter put sales growth at 9.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 44.90%. Netflix Inc. earnings are expected to increase by -14.40% in 2023, but the outlook is positive 21.72% per year for the next five years.
Netflix Inc.’s next quarterly earnings report is expected to be released around July 17 and July 21.
Netflix Inc. (NASDAQ:NFLX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.34% of Netflix Inc. shares, and 83.51% of them are in the hands of institutional investors. The stock currently has a share float of 84.64%. Netflix Inc. stock is held by 2,538 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 8.08% of the shares, which is about 35.92 million shares worth $12.41 billion.
Blackrock Inc., with 6.45% or 28.67 million shares worth $9.91 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Growth Fund Of America Inc were the top two Mutual Funds as of Dec 30, 2022. The former held 13.53 million shares worth $3.99 billion, making up 3.04% of all outstanding shares. On the other hand, Growth Fund Of America Inc held roughly 12.21 million shares worth around $4.22 billion, which represents about 2.75% of the total shares outstanding.