Netflix Inc. reported a revenue miss and a loss of net paid adds for the first quarter. Reacting to the quarterly results, most analysts tempered their expectations for the streaming giant.
Netflix Analysts
Rosenblatt Securities analyst Barton Crockett maintained a Neutral rating on Netflix shares and reduced the price target from $354 to $245.
Raymond James analyst Andrew Marok maintained a Market Perform rating.
KeyBanc Capital Markets analyst Justin Patterson maintained a Sector Weight rating.
Needham analyst Laura Martin upgraded Netflix shares from Underperform to Hold.
Rosenblatt: Cheap, Ad-based Services Gain Share
Netflix expects subscriber growth to be positive for the year and maintain its 19 percent–20 percent operating margin guidance for 2022, Crockett said. The company now expects operating margins to be flat, as opposed to its earlier expectations for an average annual margin expansion of 19 percent–20 percent.
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