Netflix Stock Has a Lot to Prove This Week
Earnings season is here. We've heard largely from financial services providers at this point, but a bellwether in consumer tech will step up with fresh financials this week. (NASDAQ: NFLX) will offer up its third-quarter results on Wednesday, shortly after the market close.
Like most stocks during earnings season, Netflix is likely to move noticeably higher or lower after its performance update. The stock plummeted 8% the day after announcing poorly received second-quarter numbers this summer. The shares are down 26% since the report. The premium streaming services pioneer will be on the move on Thursday. Yes, Netflix has a lot to prove this week.
Netflix guidance back in July calls for revenue to rise 7.5% to $8.52 billion in the third quarter, which it will discuss this week. It may not seem like much, but it would be Netflix's largest year-over-year increase in more than a year. The earnings per share projection at the time was $3.52, an improvement of 13.5%. Again, this isn't the kind of heady growth that excites growth investors, but you have to go back two years to find a stronger percentage gain on the bottom line.
Source Fool.com
Netflix Inc. Stock
Our community is currently high on Netflix Inc. with 82 Buy predictions and 9 Sell predictions.
With a target price of 609 € there is a slightly positive potential of 2.46% for Netflix Inc. compared to the current price of 594.4 €.
