Summary:
- Goldman Sachs changed the Netflix stock from neutral to a sell.
Netflix down 68% in 2022
After re-evaluating the internet sector, Goldman Sachs changed the Netflix stock from neutral to a sell. The stock is down around 68% in 2022 and Goldman Sachs still thinks it is too expensive. According to barrons.com, Goldman Sachs analyst Eric Sheridan explained that there are concerns around the impact of increased competition on demand, a consumer recession, margin expansion and levels of content spend. Hence, the spending and competition on content are still problems, and now the possibility of a slowing economy has also become a factor.
NFLX Price Chart
Sources: finance.yahoo.com, barrons.com
