Netflix Stock Dips Ahead of Critical Earnings Despite Analyst Optimism
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Netflix (NFLX) stock dropped 0.67% despite market gains. The upcoming earnings report will be important for investors to watch.
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Analysts expect strong year-over-year earnings and revenue growth from Netflix in the upcoming report.
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Recent positive estimate revisions for Netflix earnings and revenue reflect analyst optimism about the company's business.
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Netflix has a Zacks Rank of #3 (Hold) and a high valuation based on forward P/E ratio compared to the industry average.
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The Broadcast Radio and Television industry, which Netflix is part of, ranks in the top 29% of Zacks Industries.