Netflix, Inc (NASDAQ: NFLX) stock lost $8.47 of its trading prices in the July 14 trading session. It opened trading at $452.79, dipped to $439.70, hit a high of $456.48, and closed trading at $441.91 with an intraday trading volume of $7.19 million.
Despite reflecting a decline in the July 14 trading session, it showed a slight upper movement of 0.54% in the July 17 trading session. However, stock prices surged around 1.59% in the monthly time frame.
The annual price target of NFLX stock is $418.18, which is around 5.37% lower than the current trading price. In the 52-week time frame, Netflix’s stock traded highest at a price of $456.48, and lowest at a price of $188.40.
On June 27, NFLX’s stock price traded below $412, its lowest trading price in the past 15 days. In Friday’s trading session, a sudden decline in the stock prices and selling volume indicates that maybe some giant investors have pulled back their investments.
According to data from TradingView, over 437.971 million shares of Netflix Inc are free floating in the market. The remaining 6.5 66 million shares are closely held by the company’s financial breakers or the board of directors.
The streaming and subscription model generates a significant portion of Netflix’s revenue. It majorly serves users in the United States, Europe, Middle East, Africa, Latin America, Asia, and Canada.
In the short-term, total assets of Netflix are $9.27 billion, and liabilities are $7.93 billion. However, in the long-term, the company’s total assets are $39.33 billion, and liabilities are $19.89 billion.
Netflix Inc Earnings & Revenue
In Q1 2023, Netflix Inc generated 0.19% less revenue than the estimated figures. The estimated revenue for the quarter was $8.18 billion, but the company’s reported revenue was $8.16 billion.
For quarter 2 and 3, the company’s estimated revenue is $8.28 billion and $8.66 billion, respectively. Despite reflecting negativity in earnings, Earning Per Share (EPS) of Netflix surged by over 0.76%.
The company’s net income was $1.31 billion from the revenue generated in the first quarter, and the profit margin was 15.99%.
In 2022, Netflix Inc generated most of its income from the United States, Europe, the Middle East and Africa, Latin America, Asia Pacific, and Canada.
In 2022, revenue to profit conversion of the company was 39% of gross profit, 63% of earnings before interest, taxes, depreciation, and amortization (EBITDA), 18% of earnings before interest and taxes (EBIT), and 14% of net income.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/17/nflx-stock-lost-over-8-47-pre-market-shows-bullishness/