With some analysts saying that Netflix stock had entered bargain territory following its 36-percent nosedive on Tuesday, the price of the stock appeared to stabilize at around $75 in early trading today (Wednesday), following Tuesday's close at $77.37. But other analysts warned that even at $75, the stock was overpriced -- particularly when the costs involved in the company's planned expansion and its acquisition of newer movies and television shows is factored into the picture -- plus growing competition from other video websites offering streaming fare. Goldman Sachs advised clients to sell their Netflix shares, noting, "We do not see a clear catalyst path that would drive shares going forward." Vasily Karasyov of Susquehanna Financial Group set a target price of $60. Today's New York Post pointed out that Netflix investors may not be the only ones riled by the company's missteps -- that many of Netflix's own employees had opted to receive part of their pay as stock options. Anthony Wible, an analyst with Janney Montgomery Scott, warned that some of these employees are likely to jump ship. "In Silicon Valley, executives should be asking themselves if they want to be working for today's AOL," he said. Wible predicted that Netflix shares could drop to as low as $51.
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