Netflix Analyst Re-Rates Stock Ahead of Q3 Earnings Citing Margin Concerns and Leadership Changes
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst Matt Farrell maintained a Neutral rating on Netflix Inc (NASDAQ:NFLX) and lowered the price target from $440 to $400 ahead of Q3 earnings. Farrell cited concerns over margins and leadership changes, particularly the departure of the advertising business leader. He also noted potential price increases on ad-free plans and the continuation of the paid-sharing roll-out. Morgan Stanley analyst Benjamin Swinburne also maintained an Equal-Weight rating on Netflix and lowered the price target from $450 to $430.
October 11, 2023 | 7:07 pm
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Netflix's price target has been lowered by analysts from Piper Sandler and Morgan Stanley due to concerns over margins and leadership changes.
The lowering of the price target by analysts indicates a bearish outlook for the stock. Concerns over margins and leadership changes are negative factors that could impact the company's performance and investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100