- There's a widespread reset of expectations on Netflix (NASDAQ:NFLX) after the company delivers subscriber growth below guidance in Q3 and gets a reality check with HBO stepping into the streaming fray.
- Wedbush: Bearish-leaning analyst Michael Pachter take a victory lap over the sell-off, but also stays focused on the disparity between Netflix's net income and free cash flow. There's $448M over 9 quarters that needs to be sorted out, says Pachter.
- RBC: The long-term thesis on the streaming concern is still intact. PT clipped to $550.
- Piper Jaffray: The "priced for perfection" stock sees its price target reduced to $345 by analyst Michael Olson. Estimates on FY14 and FY EPS are chopped lower.
- Goldman Sachs: NFLX is still a Buy as the investment firm stays focused on revenue growth - instead of the subscriber guidance miss.
- Citigroup: The price target on Netflix is lowered to $365 due to a new set of expectations on growth and competition.
- NFLX earnings coverage: top and bottom lines, earnings report highlights, comments on HBO, conference call breakdown.
- NFLX -25.3% premarket to $335.15.