Wall Street is souring on Netflix ahead of earnings. Here's why 6 firms have cut their price targets in recent weeks.

markets.businessinsider.com | 10/16/2019 | Staff
malik778 (Posted by) Level 3
Netflix's third-quarter earnings report is going to be critical for the company to prove to investors it can weather the onslaught of streaming competitors set to flood the space in the coming months.

The streaming giant has lost more than 20% of its market value since it reported its first decline in US subscribers since 2011 during the second quarter of 2019.

Weeks - Netflix - Earnings - Results - Slew

In the weeks leading up to Netflix's third-quarter earnings results, a slew of Wall Street banks have slashed their price targets amid looming competition and concerns about future subscriber growth.

Here's why six analysts have soured on Netflix's stock in recent weeks.

Watch - Netflix - Trade - Markets - Insider

Watch Netflix trade live on Markets Insider.

Netflix will release quarterly earnings on Wednesday after the closing bell. It will be company's last report before the introduction of several new streaming services from companies like Disney and Apple.

Combination - Growth - Concerns - Netflix - Results

The combination of (1) subscriber growth concerns following Netflix's disappointing second-quarter results and (2) the prospect of new platforms crowding the streaming space has weighed on shares in recent months.

Netflix's stock has lost more than 20% of its value since its second-quarter earnings release in mid-July which showed the first US subscriber decline since 2011....
(Excerpt) Read more at: markets.businessinsider.com
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