Reviewing The Case For Netflix Inc. (NFLX) Going Higher

Currently, there are 432.76M common shares owned by the public and among those 428.59M shares have been available to trade.

The company’s stock has a 5-day price change of -10.88% and 14.93% over the past three months. NFLX shares are trading 14.00% year to date (YTD), with the 12-month market performance up to 71.78% higher. It has a 12-month low price of $315.62 and touched a high of $639.00 over the same period. NFLX has an average intraday trading volume of 4.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.52%, -8.15%, and 14.63% respectively.

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Institutional ownership of Netflix Inc. (NASDAQ: NFLX) shares accounts for 82.61% of the company’s 432.76M shares outstanding.

It has a market capitalization of $240.20B and a beta (3y monthly) value of 1.20. The stock’s trailing 12-month PE ratio is 38.51, while the earnings-per-share (ttm) stands at $14.41. The company has a PEG of 1.43 and a Quick Ratio of 1.12 with the debt-to-equity ratio at 0.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.30% over the week and 2.47% over the month.

Analysts forecast that Netflix Inc. (NFLX) will achieve an EPS of $Tidal Trust II for the current quarter, $19.31 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $MFLX while analysts give the company a high EPS estimate of $Omega Flex, Inc.. Comparatively, EPS for the current quarter was $NFLP a year ago. Earnings per share for the fiscal year are expected to increase by 50.23%, and 21.43% over the next financial year. EPS should shrink at an annualized rate of 26.85% over the next five years, compared to 35.03% over the past 5-year period.

Looking at the support for the NFLX, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on April 19, 2024, with the firm’s price target at $700. Pivotal Research Group coverage for the Netflix Inc. (NFLX) stock in a research note released on April 19, 2024 offered a Buy rating with a price target of $800. Canaccord Genuity was of a view on April 19, 2024 that the stock is Hold, while Deutsche Bank gave the stock Hold rating on April 15, 2024, issuing a price target of $525- $550. Piper Sandler on their part issued Neutral rating on April 12, 2024.

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