New Delhi, Sept. 18 -- The sell-off in Netflix shares deepened in Friday's trade, with the stock falling another 7% to $70.11 apiece, marking its fourth consecutive session of losses and taking it to its lowest level in nearly two months.

The decline came after Wells Fargo Securities downgraded the streaming video company to Underweight, citing concerns over user engagement. The downgrade marked the first bearish analyst rating on the streaming giant in months.

Wells Fargo issued a double downgrade, cutting its rating to Underweight from Equal Weight and lowering its price target to $57 from $80.

Despite maintaining its position as the world's largest paid streaming platform by subscribers and viewership, Netflix's revenue growth has c...