NEW YORK (TheStreet) -- Shares of Netflix  (NFLX - Get Report) are plunging 13.97% to $85.01 on heavy trading volume late Tuesday morning after the video streaming service reported weaker-than-expected subscriber growth for the second quarter and a disappointing outlook for the third quarter. 

A number of analysts have cited "growing pains" as a reason for the subscriber deceleration.

"I don't like the 'growing pains' as a thing," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning. "That's not 'growing pains.' You really missed very big."

Netflix added 1.7 million subscribers during the 2016 second quarter, below its own expectations of 2.5 million, after hiking the monthly subscription cost by $2 per month. During the most recent quarter, the company "ungrandfathered" existing customers who had been enjoying their old, lower rates. 

"I don't get it," Cramer stated. "I think [Netflix is] great. I would never in a million years say, I'm not paying the additional couple dollars [a month]."

He said he was waiting for Netflix to quote Franklin D. Roosevelt in saying: "You have nothing to fear but price increases themselves."

Maybe there's simply less buzz surrounding the company's original content, Cramer observed, noting that Netflix itself seems to be working through what went wrong as well.

"They lacked on the call real reasons about why the U.S. was so slow, and because of that I am concerned," he stated in the above video. "I don't know whether they didn't know...or if there's just an ennui to Netflix."

Costco (COST) and Amazon.com's (AMZN) Prime membership programs have both increased their fees in the past, and customers have largely shrugged off the price hikes, Cramer noted this morning.

He had thought that Netflix could do the same, but today's stock movement is indicating otherwise.

As for other tech names, Cramer urged investors to buy shares of Facebook (FB) and Alphabet (GOOGL) off Yahoo!'s (YHOO) second-quarter results

"I think they have eviscerated this company," Cramer contended. "They figured out Mavens better than Yahoo! figured out Mavens."

"[Yahoo!] just got beat," he said. "It's OK. Sometimes you just get beat."

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C+.

Netflix's strengths such as its robust revenue growth, expanding profit margins and increase in net income are countered by weaknesses including generally higher debt management risk, disappointing return on equity and weak operating cash flow.

You can view the full analysis from the report here: NFLX

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.