(Boursier.com) — netflix loses another 3% before the stock market on Wall Street, while Goldman Sachs has just downgraded the value of the streaming giant from neutral to sell! The target price is reduced from $265 to $186. Remember that Netflix’s setbacks continue, the group being the victim of a combination of unfavorable elements, with massive sharing of passwords, increased competition and seemingly unappreciated price increases. Netflix will have to do what is necessary to remedy these various problems, and it will take time. The service lost 200,000 subscribers over the quarter, a first in ten years. After the “stock market bubble” of confinement on Netflix and a certain number of other values adapted to the context, the return to reality is therefore harsh. The Netflix stock is dropping 68% of its value this year.
Goldman Sachs justifies its deterioration by the deterioration of the economic environment, and anticipates a slowdown in Netflix’s growth, adjusting downwards its 2022 and 2023 revenue estimates.
GS, in a same report, also downgraded from ‘neutral’ to ‘sell’ the video game group Roblox and the online auction giant eBay.
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