Significant attention follows Netflix’s stock (NASDAQ: NFLX), but today is a big day, with the price up 0.85% with upcoming earnings on deck after the closing bell.
As the earnings season unfolds, Netflix has been closing in on the consensus price target held by analysts. Whilst some perceive a substantial growth opportunity driven by the company’s strategic initiatives including advertising and live events, alongside content monetization strategies; the bear target of $550 gives an indication that not all are on the same page.
In the past 90 days, profit estimates for Netflix have been revised upwards 27 times, with expectations set at a $4.21 EPS, marking a 99% increase from the prior year. Revenue is also expected to rise by 15% year-over-year to $10.11 billion.
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The U.S. markets observed a holiday closure yesterday due to Martin Luther King Day, with today the first full day of trading post President Trump’s inauguration.
Netflix has beat on both the top and bottom lines in each of their past three quarterly reports, and markets will likely be expecting more of the same. After a gain of 78% in the stock price over the past 12 months, anything less than a stellar report and we could expect to see the bears try to take hold of the narrative.
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