Netflix Inc. (NASDAQ:NFLX) shares, rose in value, with the stock price down by -1.16% to the previous day’s close as strong demand from buyers drove the stock to $605.88.
Actively observing the price movement in the last trading, the stock closed the session at $613.01. The value of beta (5-year monthly) was 1.22 whereas the PE ratio was 50.42 over 12-month period. Referring to stock’s 52-week performance, its high was $624.42, and the low was $292.28. On the whole, NFLX has fluctuated by 4.58% over the past month.
With the market capitalization of Netflix Inc. currently standing at about $262.20 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 18, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $4.5, which is expected to increase to $4.96 for fiscal year $17.14 and then to about $21.14 by fiscal year 2025. Data indicates that the EPS growth is expected to be 42.50% in 2025, while the next year’s EPS growth is forecast to be 23.30%.
Analysts have estimated the company’s revenue for the quarter at $9.26 billion, with a low estimate of $9.22 billion and a high estimate of $9.37 billion. According to the average forecast, sales growth in current quarter could jump up 13.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $38.58 billion, representing an increase of 14.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NFLX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.04, with the price of NFLX currently trading nearly 1.27% and 9.27% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 59.23, while the 7-day volatility ratio is showing 2.32% which for the 30-day chart, stands at 2.28%. Furthermore, Netflix Inc. (NFLX)’s beta value is 1.22, and its average true range (ATR) is 14.46.
A comparison of Netflix Inc. (NFLX) with its peers suggests the former has fared considerably weaker in the market. NFLX showed an intraday change of -1.16% in last session, and over the past year, it grew by 99.44%%.
Data on historical trading for Netflix Inc. (NASDAQ:NFLX) indicates that the trading volumes over the past 10 days have averaged 2.98 million and over the past 3 months, they’ve averaged 4.66 million. According to company’s latest data on outstanding shares, there are 432.76 million shares outstanding.
Nearly 0.96% of Netflix Inc.’s shares belong to company insiders and institutional investors own 82.44% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.89 million shares as on Feb 29, 2024, resulting in a short ratio of 2.03. According to the data, the short interest in Netflix Inc. (NFLX) stood at 1.82% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 9.93 million. The stock has risen by 24.44% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NFLX stock heading into the next quarter.
