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Are These Nasdaq Stocks Set for a Pullback? Bull run over for Netflix, AMD and more..

Updated: Mar 11

Netflix stock crashing

The Nasdaq Composite recently reached a record high, but some analysts believe that the rally may be over for certain high-flying stocks in the index. Using the Professional Stock Screener, we identified several Nasdaq 100 stocks that could be due for a sell-off in the near future.

To do this, we searched for Nasdaq 100 stocks that have gained at least 40% in the past 12 months but have an analyst consensus price target that suggests at least a 1% pullback in the next year. Here are some of the stocks that made the list:

1. Netflix (NFLX): The streaming platform service is up 96% in the past year, but analysts see it falling nearly 7% in the near future. Seaport Research Partners downgraded the stock to a neutral rating from buy in January, citing full valuation metrics relative to growth expectations.

2. Advanced Micro Devices (AMD): The semiconductor manufacturer has rallied roughly 150% this past year, but analysts estimate that it could potentially fall 7%. Raymond James downgraded the stock to outperform from a strong buy rating in January, citing elevated artificial intelligence revenue expectations.

3. DoorDash (DASH): The food delivery service has gained more than 35% in 2024, but analyst consensus price targets suggest that it could decline 3%. Northland Capital Markets downgraded the stock in January to a market perform rating from outperform, citing irrational exuberance around AI growth expectations.

4. Costco (COST): The big-box retailer is also on the list, with analysts' price targets suggesting that shares could slide 5%.

It's important to note that these are just a few of the stocks that could be due for a pullback, and there are many factors that can impact a stock's price in the short term. However, if you're an investor who's looking to manage risk in your portfolio, it may be worth taking a closer look at these stocks and considering whether now is the right time to take profits or rebalance your holdings.

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