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5 Internet Stocks Downgraded by Goldman Sachs Today By Investing.com



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By Senad Karaahmetovic

Goldman Sachs analyst Eric Sheridan cut ratings on the five companies in the firm’s Internet research coverage.

The analyst downgraded shares of Goodrx (NASDAQ:) to Neutral from Buy, as well as Netflix (NASDAQ:), Roblox (NYSE:), Frontdoor (NASDAQ:), and eBay (NASDAQ:) to Sell from Neutral.

On Netflix, the analyst has concerns “around the impact of a consumer recession as well as heightened levels of competition on demand trends (both in the form of gross adds and churn), margin expansion, & levels of content spend and view NFLX as a show-me story with a light catalyst path in the next 6-12 months.”

The price target on Netflix stock goes to $186.00 from $265.00.

Sheridan’s concerns about Roblox are tied to the post-pandemic environment. The analyst expects “a continuation of slowing growth, tough comps, & normalization of margins in the near-term and as such.” Roblox price target is cut to $28.00 per share from $39.00.

Goldman Sachs analyst also reiterated Sell ratings on Airbnb (NASDAQ:) and UbiSoft (OTC:).

On the other hand, Sheridan and his colleagues are more positive about Amazon (NASDAQ:), Uber (NYSE:), Meta Platforms (NASDAQ:), and Alphabet (NASDAQ:). The analyst also reiterated Buy ratings on IAC/InterActiveCorp (NASDAQ:), ANGI (NASDAQ:), Match Group (NASDAQ:), and Bumble (NASDAQ:).

Amazon is again reiterated as a Top Pick for 2022.

“We view current levels as fully reflective of investor concerns on both revenues & profitability into 2022 & view AMZN exposed to a number of broader secular growth themes,” Sheridan commented.



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