Goldman Sachs Breaks Down Netflix (NFLX): Cutting Numbers After Essentially In-line Quarter
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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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Goldman Sachs maintains a 'Neutral' on Netflix (NASDAQ: NFLX) price target cut from $115 to $100.
Analyst, Heath P. Terry, said, "Results were essentially in line with consensus, but below our expectations, as DVD churn outpaced our forecasts. However, the trajectory on profitability was better than we expected, and the company is already planning a new international market launch for 4Q. We continue to believe that the domestic business will likely exceed management’s forecasts for subscriber growth. However, the difficulty in building a comparable international business, the rate of decline in the DVD business, and the stock’s premium valuation keep us at Neutral."
Raises FY12 loss from (0.83) to (0.17) and FY13 from (0.13) to $0.13, but lowers FY14 from $0.57 to $0.21. FY12 revs from $3.85 bln to $3.67 bln, FY13 from $4.91 bln to $4.52 bln.
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, Heath P. Terry, said, "Results were essentially in line with consensus, but below our expectations, as DVD churn outpaced our forecasts. However, the trajectory on profitability was better than we expected, and the company is already planning a new international market launch for 4Q. We continue to believe that the domestic business will likely exceed management’s forecasts for subscriber growth. However, the difficulty in building a comparable international business, the rate of decline in the DVD business, and the stock’s premium valuation keep us at Neutral."
Raises FY12 loss from (0.83) to (0.17) and FY13 from (0.13) to $0.13, but lowers FY14 from $0.57 to $0.21. FY12 revs from $3.85 bln to $3.67 bln, FY13 from $4.91 bln to $4.52 bln.
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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