Netflix Inc (NASDAQ: NFLX) will be reporting its third-quarter earnings on Thursday. Wall Street expects $5.12 in EPS and $9.77 billion in revenues as the company reports after market hours.
The stock is up 95.12% over the past year, 50.27% YTD.
Let's examine the charts for Netflix stock and how it currently compares to Wall Street estimates.
Netflix Stock Bearish Near-Term, Bullish Long-Term Ahead Of Q3 Earnings
Netflix stock's technical indicators present a mixed outlook, with the current trend leaning moderately bearish as the stock faces slight selling pressure.
At $699.27, Netflix stock price falls below its eight-day and 20-day simple moving averages of $715.31 and $712.44, both signaling a bearish trend.
However, the longer-term indicators tell a different story. The 50-day SMA of $690.78 and the 200-day SMA of $625.54 both present bullish signals, suggesting that the stock may have underlying strength.
The Moving Average Convergence Divergence (MACD) indicator, at 6.06, further supports a bullish case. While the Relative Strength Index (RSI) of 47.08 indicates the stock is neither overbought nor oversold.
The stock remains within the Bollinger Bands range of $687.03 to $731.08, currently in the lower bearish band. However, the stock has mostly traded in the upper bullish band while only recently slipping lower, so an earnings beat may just be what Netflix stock needs to return to the bullish band again.
Netflix Stock Analysts Bullish, See Limited Upside Though
Ratings & Consensus Estimates: The consensus analyst rating on Netflix stock is a Buy, with a price target of $720.50. The most recent analyst ratings for Netflix stock came from Loop Capital, Benchmark, and Guggenheim in mid-October. Their combined average price target of $718.33 indicates a potential 2.03% increase in Netflix's stock value.
NFLX Price Action: Netflix stock was down 0.53% at $702.24 at the time of publication Wednesday.