On July 19, 2023, the company will release its second quarter (Q2) 2023 reports for which it has set its estimate for EPS that is $2.85 while revenue is expected to reach $8.26 Billion.
OTT streaming service Netflix (NASDAQ: NFLX), has a market cap of $194.75 Billion. On April 18, 2023, Netflix released its first quarter (Q1) 2023 earnings report, according to which its reported earnings per share (EPS) is $2.88 while the estimated value was $2.86. The reported revenue was $8.16 Billion, whereas the estimate was $8.18 Billion.
Furthermore, the revenue report of Netflix Inc. states that last year its revenue reached $31.62 Billion. Out of which nearly $31.47 Billion came from its highest performing source at the moment, Streaming. Notably, the U.S. is the greatest contributor country which made its revenue figure last year to $13.00 Billion.
According to Yahoo Finance, the U.S.-based business news platform, over 83% shares of Netflix, Inc. are held by institutions, out of which Vanguard Group, Inc., Blackrock Inc., and FMR, LLC are 3 leading institutional holders.
NFLX Stock Price Analysis
NFLX stock price started showing a bearish trend this weekend, and with a 0.17% price drop it closed at $438.10. Meanwhile, the stock opened at $438.60, peaked at $442.32 and bottomed at $435.84 on its July 7, 2023, Friday’s trading session. However, the weekly price analysis shows NFLX stock surged 1.62%.
This upsurge has pushed NFLX towards the overbought zone which shows potential strength of active bulls. However, around the weekend, the bears began to dominate.
It must be noted that after the release of Q1 2023 results, the stock price started its upside ride. However, that trading volume was not enough to push the price to show such a massive surge. Nevertheless, the stock price surpassed its 20-day moving average. It can be seen that due to this bullishness, NFLX stock price reached its 17-month high.
Notably, the massive price surge no doubt shows investors interest in Netflix Inc. in a single shot, the NFLX surged 6% last month. Meanwhile, the year-to-date (YTD) surge is over 46%.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/07/08/nflx-stock-price-analysis-bearish-accumulation-a-threat/