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Netflix Inc. (NASDAQ: NFLX) Could Be A Life-Changing Stock?

In the latest trading session, 1.02 million Netflix Inc. (NASDAQ:NFLX) shares changed hands as the company’s beta touched 1.30. With the company’s most recent per share price at $393.19 changed hands at -$1.21 or -0.31% at last look, the market valuation stands at $175.80B. NFLX’s current price is a discount, trading about -23.35% off its 52-week high of $485.00. The share price had its 52-week low at $211.73, which suggests the last value was 46.15% up since then. When we look at Netflix Inc.’s average trading volume, we note the 10-day average is 5.8 million shares, with the 3-month average coming to 6.23 million.

Analysts gave the Netflix Inc. (NFLX) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 2 out of 44 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 17 recommended NFLX as a Hold, 22 felt it is a Buy and 1 rated the stock as Underweight. Netflix Inc.’s EPS for the current quarter is expected to be $3.51.

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Netflix Inc. (NASDAQ:NFLX) trade information

Instantly NFLX was in red as seen in intraday trades today. With action -9.55%, the performance over the past five days has been red. The drop to weekly highs of 438.40 on Monday, 09/18/23 subtracted -0.31% to the stock’s daily price. The company’s shares are showing year-to-date upside of 33.34%, with the 5-day performance at -9.55% in the red. However, in the 30-day time frame, Netflix Inc. (NASDAQ:NFLX) is -2.80% down. Looking at the short shares, we see there were 8.85 million shares sold at short interest cover period of 1.87 days.

The consensus price target for the stock as assigned by Wall Street analysts is $463.36, meaning bulls need an upside of 15.14% from its recent market value. According to analyst projections, NFLX’s forecast low is $293.00 with $600.00 as the target high. To hit the forecast high, the stock’s price needs a -52.6% plunge from its current level, while the stock would need to tank 25.48% for it to hit the projected low.

Netflix Inc. (NFLX) estimates and forecasts

Data shows that the Netflix Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 28.86% over the past 6 months, a 19.80% in annual growth rate that is considerably higher than the industry average of -20.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Netflix Inc. will rise 13.20%, while the growth in revenue is estimated to hit 1,691.70% for the next quarter. Year-over-year growth is forecast to reach 6.70% up from the last financial year.

Consensus estimates given by 29 financial analysts project the company’s revenue in the current quarter to hit an average of $8.53 billion. 28 analysts are of the opinion that Netflix Inc.’s revenue for the quarter ending Dec 2023 will be $8.85 billion. The company’s revenue for the corresponding quarters a year ago was $7.84 billion and $7.85 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 8.90%. The estimates for the next quarter sales put growth at 12.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 44.90%. The 2023 estimates are for Netflix Inc. earnings to decrease by -14.40%, but the outlook for the next 5-year period is at 24.17% per year.

NFLX Dividends

Netflix Inc. is expected to release its next quarterly earnings report in October.

Netflix Inc. (NASDAQ:NFLX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.35% of Netflix Inc. shares while 83.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.03%. There are 83.88% institutions holding the Netflix Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.16% of the shares, roughly 36.18 million NFLX shares worth $15.94 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.75% or 29.91 million shares worth $13.18 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Growth Fund Of America Inc. With 13.86 million shares estimated at $6.11 billion under it, the former controlled 3.13% of total outstanding shares. On the other hand, Growth Fund Of America Inc held about 2.63% of the shares, roughly 11.64 million shares worth around $5.13 billion.

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