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Netflix, Inc. (NASDAQ:NFLX) stock is in the spotlight Tuesday ahead of third-quarter earnings after the market close. Here’s what you need to know.
What To Know: Analysts are looking for earnings per share of $6.97 and revenue of $11.51 billion, according to estimates from Benzinga Pro.
In the company’s most recent quarter, Netflix reported earnings per share of $7.19, beating the consensus estimate of $7.06. The streaming giant also reported revenue of $11.08 billion, beating the consensus estimate of $11.04 billion.
Netflix has a strong history of beating consensus estimates having topped estimates in six consecutive quarters heading into Tuesday’s print.
Multiple analysts have issued positive updates on Netflix stock ahead of the company’s earnings report. Itau BBA initiated coverage on Netflix with an Outperform rating and announced a price target of $1,514 earlier this month. Seaport Global analyst David Joyce also upgraded Netflix from a Neutral rating to a Buy rating and set a price target of $1,385.
Netflix has a consensus Buy rating from analysts with an average price target of $1,329.97, according to Benzinga analyst data.
By now you're likely curious about how to participate in the market for Netflix – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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NFLX Price Action: At the time of writing, Netflix stock is trading 0.04% higher at $1, 239.07, according to data from Benzinga Pro.
Image: Shutterstock.com
Posted In: NFLX
