Needham & Company Maintains an 'Underperform' on Netflix (NFLX); Drops a Bomb!

October 25, 2011 7:31 AM EDT Send to a Friend
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Price: $379.01 +0.24%

Rating Summary:
    23 Buy, 22 Hold, 7 Sell

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Today's Overall Ratings:
    Up: 27 | Down: 26 | New: 17
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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.


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