Third-Quarter Earnings Report Expectations
Earnings
Analysts tracked by FactSet expect Netflix to post $3.49 a share in earnings for the third quarter. The company posted a profit of $3.10 a share in the year-prior period.
Revenue
The FactSet consensus is for $8.54 billion in revenue, up from $7.93 billion a year earlier.
Stock Movement
Netflix shares typically see percentage swings ranging from the high single-digits to the mid-teens after the company posts results.
Netflix Stock Performance
The stock of Netflix has experienced a significant decline, currently down 41% from its pandemic-era all-time closing high of $610.34 on June 30, 2021. In comparison, the broader S&P 500 index (SPX) has seen a 14% increase throughout the year. Despite this setback, Netflix shares have still shown growth, rising by 21% so far in 2021.
Analyst Ratings and Price Target
Among the 48 analysts tracked by FactSet who cover Netflix shares, their ratings are divided as follows: 24 analysts have buy ratings, 22 have hold ratings, and two recommend selling the stock. The average price target for Netflix is reported to be $447.90.
Key Factors to Consider
Shifting Strategy and Profitability
It will be crucial to keep an eye on these developments and factors as they can significantly impact Netflix’s future performance.
