Netflix Stock Price Drops 35%, on Track for Biggest Fall in Over a Decade 

For the second time this year, shares of the streaming company fell sharply after it disappointed investors 

Netflix Inc. shares were on course for their worst day in over a decade  

After the streaming giant reported that it lost subscribers in the first quarter.   

Shares of Netflix NFLX, -35.68% tumbled around 29% in premarket trading on Wednesday 

The morning after the company delivered a considerable slowdown in revenue growth and a surprise net loss of subscribers. 

While Netflix shed 200,000 subscribers in the first quarter 

The company predicted it could lose 2 million more in the second quarter 

They cut their rating on the shares to neutral from buy and lowered their price target to $355 from $575 a share. 

Pivotal Research analysts slapped a double downgrade on Netflix 

The analysts thought that Netflix could boost average revenue per user by cracking down on password sharing 

As Netflix plans to increase its emphasis on programming, take aim at password sharing 

They reduced their rating on the shares to equal-weight from overweight, while halving their target price to $300. 

J.P. Morgan joined the downgrade parade as well 

They noted that Netflix’s work on password sharing and advertising ultimately could help revenue