Janney Cuts Numbers on Netflix (NFLX), Waiting for Gadot for ROI
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Price: $239.00 +0.83%
Rating Summary:
15 Buy, 18 Hold, 10 Sell
Rating Trend: = Flat
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
Trade NFLX Now!
Janney lowered estimates and is fair value target on Netflix (NASDAQ: NFLX) from $67 to $53 following Q2 results and guidance after the close.
Analysts Tony Wible comments: "We believe NFLX faces risks tied to competition, a slowdown in sub growth, global expansion that will offset profitability for years, and cannibalization of the high margin DVD business. This is tempered by studio dependency, lack of competition, slower declines in DVD, new compression technology counteracting UBB, potential M&A, and cost rationalization."
Wible sees management credibility damage as "multiple efforts by the company to generate buzz about the fundamentals (e.g. Facebook postings, streaming stats, overly optimistic guidance, etc.) that ultimately failed to live up to the expectations."
The firm cut CY12, CY13, and CY14 EPS to $0.16, $1.94, and $3.80 from $0.54, $3.52, and $5.32, respectively.
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 $80.39 yesterday, with a 52 week range of $60.70-$285.50.
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Analysts Tony Wible comments: "We believe NFLX faces risks tied to competition, a slowdown in sub growth, global expansion that will offset profitability for years, and cannibalization of the high margin DVD business. This is tempered by studio dependency, lack of competition, slower declines in DVD, new compression technology counteracting UBB, potential M&A, and cost rationalization."
Wible sees management credibility damage as "multiple efforts by the company to generate buzz about the fundamentals (e.g. Facebook postings, streaming stats, overly optimistic guidance, etc.) that ultimately failed to live up to the expectations."
The firm cut CY12, CY13, and CY14 EPS to $0.16, $1.94, and $3.80 from $0.54, $3.52, and $5.32, respectively.
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 $80.39 yesterday, with a 52 week range of $60.70-$285.50.
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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