Needham & Company Maintains an 'Underperform' on Netflix (NFLX); A Miss? Not Really
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Price: $75.78 -3.05%
Rating Summary:
57 Buy, 26 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
Rating Summary:
57 Buy, 26 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
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Needham & Company maintains an 'Underperform' on Netflix (NASDAQ: NFLX).
Needham analyst says, "Netflix reported second quarter results that beat on the earnings line and matched estimates on the revenue line. But it apparently was not good enough because the stock tumbled almost 10% in after-hours trading. We believe the third quarter could pose some risks because of Netflix’s recent increase in pricing. Management’s third quarter guidance, however, reflected a relatively benign impact on subscriber additions from the price rise. We remain at an underperform rating, are raising our 2011 estimate from $4.40 to $4.90 and maintaining our 2012 estimate at $6.90."
For more ratings news on Netflix click here and for the rating history of Netflix click here.
Shares of Netflix closed at $276.58 yesterday.
Needham analyst says, "Netflix reported second quarter results that beat on the earnings line and matched estimates on the revenue line. But it apparently was not good enough because the stock tumbled almost 10% in after-hours trading. We believe the third quarter could pose some risks because of Netflix’s recent increase in pricing. Management’s third quarter guidance, however, reflected a relatively benign impact on subscriber additions from the price rise. We remain at an underperform rating, are raising our 2011 estimate from $4.40 to $4.90 and maintaining our 2012 estimate at $6.90."
For more ratings news on Netflix click here and for the rating history of Netflix click here.
Shares of Netflix closed at $276.58 yesterday.
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