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

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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