Analyst Sees Netflix Falling 38% After Earnings

Netflix (NASDAQ: NFLX) first-quarter earnings show what happens when there isn't a global pandemic to artificially boost subscriber totals, and that has one Wall Street analyst seeing the video streaming giant's stock cratering. Although Wedbush analyst Michael Pachter actually raised his price target on Netflix by $2 per share to $342, it's still 38% below where the stock closed the day before. Netflix guidance for next quarter is even more dismal, however, as it expects to add just 1 million new accounts.