What's Going On With Netflix Stock Thursday?

Netflix Inc NFLX shares are in the spotlight Thursday ahead of earnings after the bell. Here’s what you need to know ahead of the report.

What To Know: Netflix is due to kick off big tech earnings season after the bell on Thursday. Analysts are looking for earnings of $4.74 per share and revenue of $9.528 billion, according to estimates from Benzinga Pro.

Last quarter, Netflix delivered revenue of $9.37 billion, beating estimates of $9.275 billion. The company also beat EPS estimates, turning in earnings of $5.28 per share versus estimates of $4.51 per share. The company guided for second-quarter revenue of $9.49 billion and earnings of $4.68 per share.

The company added 9.33 million paid net new subscribers in the first quarter, bringing total paid subscribers up to 269.6 million. Netflix noted that it expected paid net additions to be lower in the second quarter versus the first quarter due to typical seasonality.

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Here’s a look at analyst updates in recent weeks leading up to earnings:

• TD Cowen analyst John Blackledge maintained Netflix with a Buy and raised the price target from $725 to $775.

• Keybanc analyst Justin Patterson maintained Netflix with an Overweight and raised the price target from $707 to $735.

• JPMorgan analyst Doug Anmuth maintained Netflix with an Overweight and raised the price target from $650 to $750.

• Morgan Stanley analyst Benjamin Swinburne maintained Netflix with an Overweight and raised the price target from $700 to $780.

• BofA Securities analyst Jessica Reif Ehrlich maintained Netflix with a Buy and raised the price target from $700 to $740.

• Jefferies analyst Andrew Uerkwitz maintained Netflix with a Buy and raised the price target from $655 to $780.

• Benchmark analyst Matthew Harrigan maintained Netflix with a Sell and raised the price target from $450 to $545.

• Macquarie analyst Tim Nollen reiterated Netflix with an Outperform and maintained a price target of $685.

• Guggenheim analyst Michael Morris maintained Netflix with a Buy and raised the price target from $700 to $735.

NFLX Price Action: Netflix shares were down 0.79% at $642.34 at the time of publication, according to Benzinga Pro.

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