Needham & Company Maintains an 'Underperform' on Netflix (NFLX); Cutting Estimates on this Simple Story
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Up: 11 | Down: 35 | New: 23
Rating Summary:
15 Buy, 18 Hold, 10 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Needham & Company maintains an 'Underperform' on Netflix (NASDAQ: NFLX).
Analyst, Charlie Wolf, said, "Netflix swung to profitability in the June quarter with earnings of $0.11 thanks to a reduction in marketing spend. But subscriber growth came in on the light side, causing the share price to swoon following the release of earnings. We are maintaining our underperform rating and cutting our 2012 estimate from $0.25 to ($0.05) and our 2013 estimate from $2.00 to $0.60."
"The Netflix story is a simple one. The company had a huge competitive advantage in the DVD rental market. It has none in the digital streaming market. Content producers are charging more and competitors in the streaming distribution channel are becoming increasingly aggressive in acquiring content."
For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.
Shares of Netflix closed at $60.28 yesterday, with a 52 week range of $59.20-$274.00.
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Analyst, Charlie Wolf, said, "Netflix swung to profitability in the June quarter with earnings of $0.11 thanks to a reduction in marketing spend. But subscriber growth came in on the light side, causing the share price to swoon following the release of earnings. We are maintaining our underperform rating and cutting our 2012 estimate from $0.25 to ($0.05) and our 2013 estimate from $2.00 to $0.60."
"The Netflix story is a simple one. The company had a huge competitive advantage in the DVD rental market. It has none in the digital streaming market. Content producers are charging more and competitors in the streaming distribution channel are becoming increasingly aggressive in acquiring content."
For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.
Shares of Netflix closed at $60.28 yesterday, with a 52 week range of $59.20-$274.00.
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