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Benzinga
Benzinga
Business
Priya Nigam

Why BofA Cut Netflix Target Price By 50%

Netflix NFLX BofA Securities Nasdaq Nat Schindler

Netflix Inc (NASDAQ:NFLX) reported negative net subscriber additions for the first quarter, at -203,000 versus guidance of 2.5 million and Street expectations of 2.6 million, according to BofA Securities.

The Netflix Analyst: Nat Schindler downgraded the rating for Netflix from Buy to Underperform, while reducing the price target from $605 to $300.

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