Netflix downgraded ahead of earnings on 'full' 24 expectations: 4 big analyst cuts

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Netflix downgraded ahead of earnings on 'full' 24 expectations: 4 big analyst cuts

Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Netflix,) shares fell more than 2% pre-market today after Wolfe Research downgraded the company to Peerperform from Outperform, as reported in real-time on“2024 ARPU expectations look full, while today's paid-sharing net adds lead to tomorrow's gross add shortfalls,” the analysts commented.

“If future growth falls short, we doubt that NFLX's 50% P/E and 70% EV/EBITDA premium to the S&P would hold up,” added Wolfe.) shares fell more than 3% pre-market today after Barclays downgraded the company to Equalweight from Overweight and cut its price target to $63.00 from $71.00. “Longer term, we like FTNT's platform approach and think the stock has terminal value, but we see a balanced risk/reward which underpins our Equal Weight rating,” added the analysts.While Tractor Supply offers promising long-term new unit growth and margin expansion within mid-cap specialty retail, the analysts noted nearer-term concerns.

 

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