Needham & Company Maintains an 'Underperform' on Netflix (NFLX); Drops a Bomb!
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Price: $239.00 +0.83%
Rating Summary:
15 Buy, 18 Hold, 10 Sell
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Today's Overall Ratings:
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).
Needham analyst says, "While the third quarter was in line, Netflix dropped a bomb, guiding to much lower earnings in the fourth quarter and possible losses in the first half of 2012, a reflection of the company’s aggressive expansion into international markets. We’re maintaining our underperform rating for now, cutting our 2011 estimate from $4.90 to $4.25 and our 2012 estimate from $6.90 to $2.50."
For more ratings news on Netflix click here and for the rating history of Netflix click here.
Shares of Netflix closed at $118.84 yesterday, with a 52 week range of $103.13-$304.79.
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Needham analyst says, "While the third quarter was in line, Netflix dropped a bomb, guiding to much lower earnings in the fourth quarter and possible losses in the first half of 2012, a reflection of the company’s aggressive expansion into international markets. We’re maintaining our underperform rating for now, cutting our 2011 estimate from $4.90 to $4.25 and our 2012 estimate from $6.90 to $2.50."
For more ratings news on Netflix click here and for the rating history of Netflix click here.
Shares of Netflix closed at $118.84 yesterday, with a 52 week range of $103.13-$304.79.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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