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Netflix and Meta See Earnings Pessimism After Slumps

  • Analysts have been trimming their price targets on both stocks
  • Netflix is scheduled to report quarterly results next week
Updated on

Meta Platforms Inc. and Netflix Inc. may have a hard time turning around the slumps that have wiped more than a third off their market value this year, as ongoing business headwinds and a weak macroeconomic backdrop keep investors at bay despite historically cheap multiples.

The two internet giants were among the most high-profile disappointments of the last earnings season, with slowing growth at both companies sparking selloffs that erased hundreds of billions of dollars in value. With fresh results around the corner, analysts are showing they remain skeptical by trimming their price estimates. The average target for both has fallen to their lowest since 2020, according Bloomberg-compiled data.