Needham & Company Maintains an 'Underperform' on Netflix (NFLX); Raising Estimates As Recovery Continues
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Price: $78.16 -0.1%
Rating Summary:
57 Buy, 26 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
57 Buy, 26 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains an 'Underperform' on Netflix (NASDAQ: NFLX).
Analyst, Charlie Wolf, said, "Netflix reported an in-line first quarter. While investors were disappointed with second quarter subscriber acquisition
guidance, the company is confident it can add seven million domestic streaming subs during the year, which would put the absolute growth in line with 2010." (FY12 EPS estimate raised from (0.50) to $0.50...maintains FY13 at $2.75)
"We continue with an underperform rating chiefly for valuation reasons. However, it appears that Netflix is scaling back the growth in content spending relative to subscriber growth. An inflection point in the profitability of a streaming subscriber, which is only revealed in data published in the company’s 10Q, could trigger an upgrade."
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 $101.84 yesterday.
Analyst, Charlie Wolf, said, "Netflix reported an in-line first quarter. While investors were disappointed with second quarter subscriber acquisition
guidance, the company is confident it can add seven million domestic streaming subs during the year, which would put the absolute growth in line with 2010." (FY12 EPS estimate raised from (0.50) to $0.50...maintains FY13 at $2.75)
"We continue with an underperform rating chiefly for valuation reasons. However, it appears that Netflix is scaling back the growth in content spending relative to subscriber growth. An inflection point in the profitability of a streaming subscriber, which is only revealed in data published in the company’s 10Q, could trigger an upgrade."
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 $101.84 yesterday.
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