Citigroup downgraded the online video streaming service to "neutral" from "buy" based on a valuation call.
"While we've presented an upside case of more than $950/share, we believe investors are unlikely to ascribe this full value until there are more signs of traction in recently launched markets, which may not be imminent," Citigroup said in an analyst note.
Societe Generale reduced its rating on Netflix to "sell" from "buy" as it believes the stock is sensitive to changes in investor "perceptions."
Citigroup has a $722 price target on Netflix. Societe Generale has a $585 price target on the stock.
Separately, TheStreet Ratings team rates NETFLIX INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NETFLIX INC (NFLX) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and premium valuation."