Netflix stocks tanks but gets a 'Buy' Rating
Time to back up the truck for shares of Netflix (NFLX)? One analyst thinks so.
Netflix shares are down almost 1/4 of their value today. Why so bad? They missed bad on the earnings call. They didn't hit their subscriber numbers or revenue in the latest quarterly report. Boo, hoo.
Goldman Sachs reissued their buy rating on shares of Netflix (NASDAQ:NFLX) in a research report sent to investors on Thursday morning. The firm currently has a $450.00 price target on the stock, down from their previous price target of $550.00. However they have a "Buy" rating.
Who else came to the party this morning? Analysts at BMO Capital Markets reiterated a market perform rating on shares of Netflix in a research note on ThursdayThey now have a $375.00 price target on the stock, down previously from $400.00. Separately, analysts at RBC Capital cut their price target on shares of Netflix from $600.00 to $550.00 in a research note on Thursday. They now have an outperform rating on the stock. Finally, analysts at CRT Capital downgraded shares of Netflix from a buy rating to a fair value rating in a research note on Thursday. They now have a $375.00 price target on the stock, down previously from $510.00. (sourcre: wkrb13.com/)
Bottom line: If you are holding NFLX shares then you should cut some loose, this puppy is not rallying hard anytime soon with HBO on its heals. For those waiting to buy NFLX, give it time, it will get cheaper.
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