Netflix slides after a Wall Street analyst says it 'may have sprinted ahead of fundamentals' (NFLX)

pulse

March 7, 2018 7:21 PM

A Wall Street analyst downgraded Netflix's stock over valuation concerns.

The analyst said that the company may have "sprinted ahead of fundamentals in the short-term."

Shares of Netflix dropped 2% on Wednesday after a Wall Street analyst handed the video-streaming company a downgrade on its stock.

Stifel Analyst Scott Devitt expressed concerns over Netflix's valuation, pointing out how the company's share price moved above Stifel's 12-month price target.

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