What's Going On With Netflix Stock?
Portfolio Pulse from Adam Eckert
Netflix Inc (NASDAQ:NFLX) stock is trading lower after Citigroup downgraded the company from a Buy to a Neutral rating with a price target of $500. BMO Capital initiated coverage with an Outperform rating and a price target of $566, while Goldman Sachs maintained a Neutral rating and raised their price target from $400 to $500. The average analyst price target is $436.03. Netflix is expected to report Q4 earnings of $2.21 per share on revenue of $8.705 billion. The stock was down 1.76% at $476.50.
January 09, 2024 | 2:10 pm
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Netflix Inc's stock is trading lower due to a downgrade by Citigroup from Buy to Neutral with a price target of $500. Analyst opinions are mixed, with BMO Capital being bullish and Goldman Sachs maintaining a neutral stance but raising the price target. The company is expected to report Q4 earnings soon.
The immediate negative reaction in Netflix's stock price is likely due to Citigroup's downgrade, which can influence investor sentiment and lead to a short-term decline in stock price. The upcoming earnings report may also contribute to volatility. However, the mixed opinions from other analysts and the anticipation of the earnings report suggest that the impact may be moderated.
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