If you’re thinking of buying Netflix (NFLX), don’t.

Unfortunately for NFLX, the pain may last awhile.

Not only did the company just report its first subscriber loss in about 10 years, analysts are out with reduced price targets.

Wedbush just lowered its price target from $342 to $280.  Evercore ISI just lowered its from $525 to $300.  UBS even downgraded NFLX from a buy to a neutral rating.  Guggenheim lowered its target to $350, and removed NFLX as a “best idea.”  Cowen lowered its target from $590 to $325.  Canaccord lower its target to $400 from $600.

We could go on…

All after the company said it lost 200,000 subscribers in Q1 2022.  “Our revenue growth has slowed considerably,” the company said, as quoted by CNBC. “Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration — when including the large number of households sharing accounts — combined with competition, is creating revenue growth headwinds.”

While it may be tempting to buy the stock on the pullback, fight the urge.

Until the bleeding stops at NFLX, and until the stock finds support, avoid it.  Or, perhaps short the stock, or even buy a NFLX put option.  Going long is a bad idea at the moment.