Netflix Inc (NASDAQ:NFLX) shares are trading lower Tuesday. The stock appears to be reacting negatively to a downgrade from Citigroup.
What To Know: Citigroup analyst Jason Bazinet downgraded Netflix from a Buy rating to a Neutral rating and set a price target of $500.
BMO Capital and Goldman Sachs also came out with updates on the stock on Tuesday. BMO Capital analyst Brian Pitz initiated coverage on Netflix with an Outperform rating and set a price target of $566. Goldman Sachs analyst Eric Sheridan maintained Netflix with a Neutral rating and raised the price target from $400 to $500.
20 analysts have positive ratings on Netflix, 10 have neutral ratings and one has a negative rating. The current average price target among analysts is $436.03, according to Benzinga’s analyst data.
Netflix is scheduled to report fourth-quarter financial results on Jan 23. The company is expected to report earnings of $2.21 per share on revenue of $8.705 billion, according to Benzinga Pro.
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NFLX Price Action: Netflix shares were down 1.76% at $476.50 at the time of publication, according to Benzinga Pro.
Photo: Tumisu from Pixabay.
