Is a good buy Netflix right now?
7/19/2024 11:24am
**Netflix appears to be a good buy at the moment**, considering the following points:
1. **Strong Financial Performance**: Netflix reported a net income of $2.79 billion and diluted EPS of $4.88 for the quarter ending June 30, 2024, which is a significant improvement from the previous year.
|Ticker|Name|Total Revenue|Net Income|Diluted EPS|Date|code|market_code|
|---|---|---|---|---|---|---|---|
|NFLX.O|Netflix|9.55931E9|2.79139E9|4.88|2024 Q2|NFLX|185|
2. **Positive Revenue Growth**: The company has shown a year-on-year revenue growth rate of 16.76% and a net income growth rate of 31.99%. This indicates a healthy growth trajectory.
|Ticker|Name|Total Revenue year-on-year growth rate|Net Income year-on-year growth rate|Diluted EPS QoQ growth rate|Date|code|market_code|
|---|---|---|---|---|---|---|---|
|NFLX.O|Netflix|16.75776913539639|31.994469395842025|-7.5757575757575815|20240630|NFLX|185|
3. **Analyst Confidence**: The average analyst price target is $679.81, with a consensus rating of "Buy" from analysts. This suggests that analysts are optimistic about the stock's future performance.
4. **Strategic Initiatives**: Netflix has been expanding its content library and has announced deals for live sports events, which could attract new subscribers and drive revenue growth.
5. **Market Position**: Netflix is positioned as one of the top streaming services, with a significant subscriber base and a strong content portfolio.
6. **Valuation**: With a current price of $643.04, Netflix's stock is trading below the average price target, indicating potential upside.
|Ticker|Name|Closing Price|Date|code|market_code|
|---|---|---|---|---|---|
|NFLX.O|Netflix|643.04|20240718|NFLX|185|
In conclusion, Netflix's strong financial performance, positive growth rates, analyst optimism, strategic initiatives, and attractive valuation make it a compelling buy at this time.