Netflix

NFLX · NASDAQ

$68.69−$1.16 (−1.66%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $69.85

NFLX analyst rating

BuyConsensus of 36 analysts over the last 12 months. 78% rate it a buy.

Strong buy0
Buy28
Hold7
Underperform1
Sell0

12-month price target · 48 analysts

Average $96.46 (+40.4% upside)

Low: $57.57
Now: $68.69
High: $141.75

Upgrades and downgrades

The latest rating actions, newest first

NFLX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BMO Capital	Oct 16, 2026	Maintains	Outperform	$135.00 → $125.00	54%
Wedbush	Oct 16, 2026	Maintains	Outperform	$105.00 → $90.00	56%
Rosenblatt	Oct 16, 2026	Maintains	Neutral	$75.00	64%
Jefferies	Oct 15, 2026	Initiates	Buy	$85.00	59%
Keybanc	Oct 13, 2026	Maintains	Overweight	$92.00 → $85.00	50%
Morgan Stanley	Oct 8, 2026	Maintains	Overweight	$83.00 → $80.00	50%
Barclays	Oct 7, 2026	Maintains	Equal-Weight	$80.00 → $70.00	56%
TD Cowen	Oct 5, 2026	Maintains	Buy	$100.00	55%
Guggenheim	Oct 1, 2026	Maintains	Buy	$75.00 → $80.00	54%
Deutsche Bank	Sep 29, 2026	Upgrade	Hold → Buy	$100.00 → $95.00	64%

The case for and against

Updated Oct 14, 2026

Bull case

Netflix is well positioned because its single-streaming-model leadership and more than 300 million global subscribers give it unmatched scale, broad international reach outside China, and strong pricing power. The ad-supported tier, launched in 2022, adds a new revenue stream that could reach $4.7BN in '27, while management and analysts also expect member growth, higher average revenue per member, and sustained 10%+ revenue growth over the next few years. With incremental margins of roughly 80%-85%, operating margins expected to rise toward 33.6% in '27, and free cash flow improving as scale lifts content amortization efficiency, the company has a durable path to earnings growth.

Bear case

Netflix is challenged by intense global competition, rapid technological change, and weaker discoverability versus rivals and other mobile video platforms, with a 3Q26 survey placing it in 5th place among overall respondents. Growth expectations also look aggressive if it cannot sustain U.S. and Canada subscriber gains or expand toward the estimated 127MM UCAN paid subscribers and 504MM total paid subscribers by 2034, especially as developed markets mature and churn rises. Rising content spend to roughly $19.5BN in FY26, along with macro headwinds, ad-budget pressure, currency risk, and margin compression to about 33% by 2028E in the bear case, supports a negative fundamental view.

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