Netflix Shares Fall 12% Friday as Analysts Cut Price Targets After Q2 Earnings Miss

NFLX-7.03%
Netflix shares tumbled 12% on Friday morning after the company reported second-quarter revenue of $12.56 billion, missing the $12.58 billion consensus estimate, according to Stocktwits. Earnings per share of $0.80 came in slightly ahead of expectations of $0.79. Multiple Wall Street analysts subsequently lowered their price targets, citing concerns around slowing growth, engagement trends, and returns on content spending. Wolfe Research cut its target to $84 from $107, Bank of America lowered its target to $105 from $125, and JPMorgan reduced its target to $85 from $118. By Friday afternoon, shares had pared losses to trade about 7% lower.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments