Evercore ISI's Mark Mahaney says Netflix stock may have overheated heading into second quarter earnings. Mahaney expects the dominant streaming platform to underperform heading into second quarter earnings on July 19, and downgraded the stock in the short-term. Shares of Netflix have climbed roughly 48% since since the start of the year.
mountain Netflix stock has climbed more than 46% from the start of the year. Mahaney says that while Wall Street expectations for revenue, net subscription growth and earnings per share aren't unreasonable, risks might be inflated due to higher buyside expectations.
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