NEW YORK ( TheStreet) -- If you get uncomfortable when an inordinate number of Wall Street analysts come to a consensus and agree with your sentiment on a stock, you're not alone. You're not being paranoid either.I'm bullish on Facebook ( FB). I am also bullish Zynga ( ZNGA). Most of Wall Street is as well.
... has anybody heard from Ingrid Chung at Goldman Sachs? ... After Netflix's disastrous Q2 and weak Q3 guidance in July, Chung waxed bullishly, not only reiterating a buy rating and her $330 price target, but raising EPS estimates from 2011 through 2013.While things seem to be a wee bit more optimistic, Netflix, according to its first quarter-letter to shareholders, expects to come in around break-even and possibly even post a loss. That's going to make $7.69 for the year next to impossible. To be fair, Chung had plenty of company in being wrong. That said, I am not sure I have ever seen a worse performance than hers. Luckily, throughout 2011, I was adamantly on the opposite side of the trade. But now, with regard to Facebook and Zynga, I find myself in agreement with the same crew of folks who touted Netflix. That leaves me slightly concerned.
Before you read this next sentence, call some family, friends or co-workers over to your computer screen, because there's nothing like sharing a laugh with others around the holidays. For 2012, Chung predicted Netflix would post EPS of $7.69.