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- 1 NFLX stock rallied 49.39% YTD and 163.07% in one year
- 2 The Netflix share price could cross a 52-week high, but beating the gap zone would be difficult.
The Streaming giant Netflix Inc. saw NFLX Stock rally 43.61% in 3 months to $445.27, and experts predict that it will touch the $500 mark soon. The California-based subscription service mogul saw a sharp increase in stock price this month, gaining 10.30%. In a similar timeframe, the Consumer Discretionary sector swelled by 4.16%, and S&P hiked by 6.1%.
Netflix Inc. (NFLX Stock) – Financial Analysis
The last earnings were reported on April 18, 2023, when the company’s revenue failed to beat the estimates by 0.19%. The reported revenue was $8.162 Billion, while the estimated amount was $8.177 Billion, resulting in a surprise of -$15.16 Million. Although this negative report slowed the rally, it later jumped by 33.30%.
At press time, NFLX is trading at $445.27 with a gain of 1.00%; previous close and open were at $440.86 and 444.10, respectively. The 52-week change comes with a swell of 153.70%. With an average volume of 7.42 Million shares, the market cap stays strong at $200.271 Billion. However, analysts have placed the price target at $364.86 with a 16.9% downside.
NFLX’s share price skyrocketed during the pandemic, but when the lockdown ended, other streaming services like Disney+ became active, thereby slowing its growth. Consequently, in 2022, the price of shares dropped to $162.71. However, in the last year, the number of subscribers increased thanks to back-to-back blockbuster web series and movies, like Wednesday, Stranger Things, etc.
Concerning March 2023 data, the revenue hiked by 3.37% to $8.16 Billion, while the trailing twelve-month (ttm) revenue stood at $31.91 Billion. The revenue per share was $71.71, while the quarterly revenue growth was around 3.70% year-over-year (YoY). The earnings per share (EPS) was $9.54 (ttm), and the price-to-earnings ratio came to 46.67.
Operating expenses swelled by 1.99% to $1.64 Billion, while the operating margin hiked by 16.85% and the profit margin increased by 13.16%. Gross profit (ttm) was reported to be $12.45 Billion. Total cash in hand at the end of the most recent quarter (mrq) is $7.83 Billion, and Netflix has a total debt of $16.96 Billion.
NFLX Stock – Candle Exploration
NFLX’s share price might soon cross its all-time high of $458 and enter the GAP zone. However, when the stock previously tried to break a gap zone, it took 190 days, and it can be seen that the price rallied after a breakout. A steep ascending trend line and upward-moving EMA hints at positivity, but the 82.13 value of RSI, getting into the overbought zone, raises concerns.
Only time will tell when the gap zone shall be destroyed, but the price might suffer a little due to buying and bounce off from immediate resistance. Price action can consolidate for a while between the zones until a further trigger for either movement appears.
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The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
