Analysts stuck to ratings and share price targets after a Brazil tax dispute hit the bottom line and stock price, with some waiting for year-end results, while at least one tells investors to "buy the dip.

Netflix Inc. (NFLX.O) missed Wall Street's third-quarter profit projections due to an unexpected tax bill in Brazil.

Netflix saw shares dip 6% pre-market due to a one-time tax issue in Brazil. But with strong content and growing ad revenue, it remains a solid investment.

Looking ahead to the fourth quarter, Netflix expects its growth to continue, calling for revenue to increase to 16.7% to $11.96 billion. It also sees $5.45 at EPS, reflecting higher content spend in the fourth quarter. Those figures compared favorably with the consensus at $11.9 billion in revenue and $5.43 in EPS.

Netflix shares sank on Tuesday after the streaming television powerhouse reported quarterly profit that fell short of market expectations.

Netflix, Inc. stock dropped after a Brazilian tax expense hit margins, but revenue and engagement remain strong. Click for more on NFLX Q3 earnings.

The dominant streamer reported higher revenue and profit, driven by membership growth, increased ad revenue and price increases, but shares slumped on a tax-dispute expense.

The company’s earnings came in below expectations, with the stage set for big gains with the company’s ad business in the fourth quarter.