Goldman Sachs Lowers Numbers on Netflix (NFLX)
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Price: $73.24 -0.8%
Rating Summary:
58 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
Rating Summary:
58 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
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Goldman Sachs lowered estimates and its price target on Neutral-rated Netflix (NASDAQ: NFLX) from $100 to $80 following results after the close.
The firm notes that while profitability was better than expected, the comapny will return to losses with the launch of a new market in Q4.
"While we believe management’s subscriber growth forecasts will like prove conservative, international challenges, the forced declines of the DVD business, and the stock’s premium valuation keeps us at Neutral."
Goldman lower our 2012/13/14 revenue estimates by 1%-4% to $3,624/$4,325/$5,138 mn. They raise 2012 adj EPS to $1.38 from $0.73 on higher profitability due to lower marketing spend, but 2013/14 EPS drops to $0.95/$1.17 (from $1.17/$1.42).
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 $80.39 yesterday.
The firm notes that while profitability was better than expected, the comapny will return to losses with the launch of a new market in Q4.
"While we believe management’s subscriber growth forecasts will like prove conservative, international challenges, the forced declines of the DVD business, and the stock’s premium valuation keeps us at Neutral."
Goldman lower our 2012/13/14 revenue estimates by 1%-4% to $3,624/$4,325/$5,138 mn. They raise 2012 adj EPS to $1.38 from $0.73 on higher profitability due to lower marketing spend, but 2013/14 EPS drops to $0.95/$1.17 (from $1.17/$1.42).
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 $80.39 yesterday.
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