Netflix Inc (NASDAQ:NFLX) shares are trading lower Monday following bearish analyst coverage from CFRA.
CFRA analyst Kenneth Leon downgraded Netflix from a Hold rating to Sell and lowered the price target from $245 to $238.
Related Link: Benzinga’s Top Ratings Upgrades, Downgrades For August 22, 2022
Netflix delivers original and third-party digital content. The company primarily operates a streaming video on demand service, which is available in almost every country worldwide except China.
NFLX Price Action: Netflix shares are down more than 60% year-to-date, but the stock has rallied more than 20% since the middle of July. Netflix has a 52-week high of $609.99 and a 52-week low of $162.71.
See Also: How Much $1,000 Invested In Apple, Meta, Amazon, Netflix, Alphabet In Mid-June Would Have Fetched Ahead Of Friday’s Plunge
The stock was down 6.27% at $226.08 at press time, according to Benzinga Pro.
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