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Why Netflix Stock Is Tumbling Today

TheMotleyFool

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Shares of Netflix (NASDAQ: NFLX) were sliding today after a Jefferies analyst downgraded the company's stock from a buy rating to hold and cut his price target from $737 down to $415. Making matters worse, the broader stock market is experiencing a massive sell-off today as investors expect the Federal Reserve to raise interest rates in the coming months.

Netflix's stock fell by as much as 11% today and was down by 5.7% as of 1:52 p.m. ET.

Jefferies analyst Andrew Uerkwitz downgraded Netflix's stock and cut its price target, saying that "the best content slate we've seen is doing little" to drive subscriber growth.

Source Fool.com

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