Why Netflix Stock Is Falling Today

Netflix Inc NFLX shares are trading lower Monday following bearish analyst coverage from CFRA.

CFRA analyst Kenneth Leon downgraded Netflix from a Hold rating to Sell and lowered the price target from $245 to $238.

Related Link: Benzinga's Top Ratings Upgrades, Downgrades For August 22, 2022

Netflix delivers original and third-party digital content. The company primarily operates a streaming video on demand service, which is available in almost every country worldwide except China.

NFLX Price Action: Netflix shares are down more than 60% year-to-date, but the stock has rallied more than 20% since the middle of July. Netflix has a 52-week high of $609.99 and a 52-week low of $162.71.

See Also: How Much $1,000 Invested In Apple, Meta, Amazon, Netflix, Alphabet In Mid-June Would Have Fetched Ahead Of Friday's Plunge

The stock was down 6.27% at $226.08 at press time, according to Benzinga Pro.

Photo: Tumisu from Pixabay.