Barclays Adjusts Price Target and Estimates on Netflix (NFLX); Amplified Seasonality?
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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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Barclays maintains an 'Equalweight' on Netflix (NASDAQ: NFLX) price target dropped from $115 to $95.
Analyst, Anthony DiClemente, said, "Although Netflix's 1Q domestic subscriber growth, contribution margins, and international subscriber growth were all better than expected, 2Q subscriber guidance came in below Street expectations on amplified seasonality. Though a hindrance in 2Q, management expects seasonality to result in robust net adds in the back half of the year that would bring 2012 net adds to 7M, well ahead of our prior 5.4M estimate."
However, DiClemente sees a certain level of risk around NFLX's possible year-end outcome, therefore he adjusts his price target and FY estimates. (FY12 EPS raised from -0.12 to $0.08, but FY13 lowered from $2.46 to $2.31.
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, Anthony DiClemente, said, "Although Netflix's 1Q domestic subscriber growth, contribution margins, and international subscriber growth were all better than expected, 2Q subscriber guidance came in below Street expectations on amplified seasonality. Though a hindrance in 2Q, management expects seasonality to result in robust net adds in the back half of the year that would bring 2012 net adds to 7M, well ahead of our prior 5.4M estimate."
However, DiClemente sees a certain level of risk around NFLX's possible year-end outcome, therefore he adjusts his price target and FY estimates. (FY12 EPS raised from -0.12 to $0.08, but FY13 lowered from $2.46 to $2.31.
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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