Evercore ISI Negative on Netflix (NFLX), Adds to Tactical Underpeform List, 'we would prefer to buy NFLX shares after the print'
Evercore ISI analyst Mark Mahaney reiterated an Outperform rating and $400.00 price target on Netflix (NASDAQ: NFLX)
The analyst comments "Buyside expectations in terms of Net Sub Adds are almost certainly higher than Street, with the market likely looking for more like 4MM-5MM Subs in Q2 and a similar to higher level in Q3 (5-7MM). If the positive intra-quarter Sub trends reported by third-party tracking services are accurate, these expectations appear reasonable. But we would view them as likely limiting the opportunity for upside surprise and increasing the odds of a negative surprise. Thus, we would prefer to buy NFLX shares after the print rather than before and have issued a Tactical Underperform call on NFLX for the print."
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 $441.91 yesterday.