Neflix, Inc. (NASDAQ:NFLX) just took a huge dive after releasing its quarterly earnings, however, FBR analyst Barton Crockett isn’t giving up on the company just yet – rather recommending that you wait it out and see how the company can recover itself. The analyst reiterated a Market Perform rating for Netflix, while reducing the price target to $90 (from $104).

Crockett believes that the company’s substantial 2Q16 sub miss was “all due to greater-than-expected sensitivity of consumers to reports of an impeding effective rate hike.” This implies to the analyst that Netflix’s user loyalty is brittle.

Netflix added only 160,00 new subscriptions when guidance suggested an addition in the 500,000’s. The analyst believes that a price hike is to blame for the miss in subscription addition, with users cancelling when they heard the news of the additional cost to use the service. Netflix subscribers stream for about 2 hours a day, on average, and the analyst finds it surprising that users would cancel their subscriptions before the $1-$2 price hike actually went into effect.

Crockett explains that investing in NFLX is now unusually risky, as missed forecasts for huge company’s are “annoying.” In addition, the company is making promises for escalating content costs based on the company’s prospects for subscription growth and cost leverage.

According to TipRanks, Barton Crockett is ranked #266 of 4,057 analysts and maintains a success rate of 62% with an average return of 7.8%. When rating Netflix, the analyst sustains a 44% success rate and realizes an average profit of 12.0%.

As of this writing, 57% of analysts issue a Buy rating for NFLX, while 35% maintain a Hold rating, and 8% uphold a Sell rating for the stock. The consensus target price for NFLX is $108.59, marking a 26.50% upside from current prices.