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Netflix, Inc.

NFLX · NASDAQ

Market closed$68.95$-5.40 (-7.26%)After hours $69.06 · +0.16%

Key statistics

Previous close$74.35
Open$65.54
Day high$69.49
Day low$65.10
52-week high$126.71
52-week low$65.10
Market cap290.33B
Volume141.23M
Average volume47.99M
P/E ratio22.24
Forward P/E—
EPS3.10
Dividend yield0.00%

Market context

Why it moved

Netflix shares fell sharply after the company's Q2 2026 earnings report revealed a revenue miss and weaker-than-expected third-quarter guidance showing decelerating growth, while the decision to reduce transparency around viewer engagement data further rattled investors already unnerved by the stock's prolonged decline.

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What is happening

Recent company-specific developments and publisher coverage.

July 17, 2026Netflix shares tumbled 7.3% Friday — their worst single-day drop in over four years — after Q2 earnings revealed a slim revenue miss and, more critically, Q3 guidance that fell well short of Wall Street expectations. The company forecast Q3 revenue of $12.86 billion and EPS of $0.82, both below consensus estimates of $13.0 billion and $0.84, while narrowing full-year guidance to a midpoint below Street estimates. Compounding investor concern, Netflix announced it will shift its engagement 'What We Watched' report to annual publication starting 2027, reducing transparency around viewer hours at a time when slowing UCAN (U.S. & Canada) revenue growth — up just 10% YoY, the slowest since early 2025 — already has bears questioning structural engagement trends. Shares are now down roughly 50% from their June 2025 peak and hit new 52-week lows intraday. Analysts across the Street slashed price targets in response: JPMorgan cut to $85 from $118 (maintains Overweight), Morgan Stanley to $83 from $90 (Overweight), Guggenheim to $75 from $120 (Buy), BofA to $105 from $125 (Buy), and Wells Fargo to $80 from $105 (Equalweight), among others. Despite the broad target cuts, most firms maintained constructive ratings, pointing to Netflix's advertising ramp, AI-driven content cost savings (used across ~300 productions), expansion into podcasts and live sports, and a ~330 million subscriber base as long-term catalysts. In after-hours trading, shares have stabilized near $69.

-7.2629

July 17, 2026Netflix plunged roughly 9% in after-hours trading after its Q2 earnings report delivered a guidance miss that overshadowed an in-line quarter. While Q2 revenue of $12.56B (+13% YoY) and EPS of $0.80 were roughly in line with estimates, investors were rattled by Q3 guidance of $12.86B in revenue and EPS of $0.82 — both below the $13.0B and $0.84 Wall Street expected. Adding to unease, Netflix announced it would cut its semi-annual viewing-hours report to once a year starting in 2027, continuing a trend of reducing transparency after dropping quarterly subscriber counts in 2025. The stock had already shed over 40% in the past 12 months amid M&A missteps and competition concerns.

0.9093

July 16, 2026Netflix closed essentially flat, holding near multi-year lows ahead of its highly anticipated Q2 earnings report after Thursday's close. Investor sentiment is cautious as the stock has shed roughly 20% year-to-date and trades 40%+ below its 2025 peak, weighed by concerns over slowing engagement, subscriber churn following a March price hike, and M&A missteps. Options traders are pricing in an ~8% post-earnings swing, while analysts remain broadly constructive — Morgan Stanley (overweight, $90 target) and Guggenheim (buy, $120) both see engagement fears as overblown relative to the company's strong fundamentals, including 91% FCF growth and a $31.8B buyback authorization. Q2 consensus stands at $0.79 EPS on $12.58B revenue.

0.204

July 15, 2026Netflix closed modestly lower ahead of its high-stakes Q2 earnings report on July 16, with the stock hovering near 52-week lows and down roughly 20% year-to-date. Multiple analysts adjusted targets today: Morgan Stanley maintained its Overweight but cut its price target to $90 from $115, citing engagement concerns as "largely overblown" while acknowledging a "tricky catalyst path," while Barclays trimmed its target to $85. Evercore flagged Netflix as a potential "beat-and-raise" candidate given depressed sentiment and intact fundamentals, as investors weigh strong FCF and a $25B buyback authorization against slowing engagement and the fallout from a failed Warner Bros. acquisition.

-0.4063

July 14, 2026Netflix closed modestly higher, outperforming a broadly weaker market — the S&P 500 fell amid U.S.-Iran tensions and an oil surge — as investors bought into the recent pullback ahead of its Thursday Q2 earnings report. Multiple analysts weighed in Monday, with Wedbush reiterating Outperform ($118 target) on expectations that ad revenue will roughly double to ~$3B in 2026, while Oppenheimer maintained Outperform but cut its target to $100, citing near-term monetization headwinds. The stock, down over 40% from its April highs and trading near four-year valuation lows, faces key questions around slowing user engagement, margin guidance, and whether its advertising-supported tier can offset growth pressures ahead of what Wall Street expects to be a pivotal report.

0.627

July 11, 2026Netflix fell nearly 3% to close at $73.37, hovering near its 52-week low of $70.86, after a Wall Street Journal report revealed the company is exploring live TV channels and bundling rival streaming services to combat weakening subscriber engagement — a disclosure that spooked investors ahead of Q2 earnings on July 16. The report, which surfaced Thursday after hours, signaled that Netflix's growth narrative may be under pressure, with conflicting analyst sentiment, heavy insider selling (~900K shares over 90 days), and concerns over slowing revenue growth all weighing on sentiment. Bulls counter that the stock trades at just ~21x forward earnings — well below its decade-average multiple — and point to record free cash flow, a rapidly scaling ad-supported tier targeting $3B in 2026, and potential sports rights (FIFA World Cup) as catalysts, with at least one Seeking Alpha analyst upgrading shares to Buy on the dip.

-2.7826

July 10, 2026Netflix closed essentially flat but slipped further in after-hours trading, falling an additional 1.23%, after a Wall Street Journal report revealed the company is exploring live TV channels and third-party streaming bundles amid signs of weakening subscriber engagement — a development that spooked investors already cautious ahead of Q2 earnings on July 16. The after-hours move compounds a broader narrative of concern: Netflix is down roughly 40% from its 2025 highs, Citigroup cut its price target to $100 from $115, and the company faces headwinds from slowing revenue growth, rising content costs, and structural competition from short-form content. Bulls counter that strong free cash flow, an expanding ad-supported tier targeting $3B in ad revenue for 2026, and a potential FIFA World Cup rights bid offer meaningful upside at current valuations.

-0.1588

July 9, 2026Netflix closed modestly lower amid a broad market risk-off session, as President Trump declared the U.S.-Iran ceasefire 'over,' sending oil prices surging and rattling equities. Investor focus remains squarely on the July 16 Q2 earnings report, with bulls pointing to a new short-form video content strategy — signing licensing deals with BuzzFeed, Condé Nast, Hearst, and others — and reported interest in bidding for 2030/2034 FIFA World Cup U.S. broadcast rights as evidence of expanding monetization levers. Bernstein trimmed its price target to $100 (from $110) while maintaining Outperform, reflecting caution ahead of earnings where EPS growth is expected to decelerate sharply to ~8% YoY even as ad revenue scales toward a $3B run rate.

-0.7745

CNBC · July 17, 2026Wall Street cuts Netflix targets on weak guidanceIndieWire · July 16, 2026Netflix Tries to Ease Worries About Engagement, Season 2 Drop Offs, Podcasts, and Free TiersIndieWire · July 16, 2026Netflix Co-CEO Explains How Gen-AI Was Used in 300 Different TitlesVariety · July 16, 2026About 300 Netflix Titles Used Generative AI This Year, Company RevealsBloomberg.com · July 16, 2026Netflix Feeds Investor Anxiety With Disappointing ForecastCNBC · July 16, 2026Netflix stock falls as earnings forecast disappoints, company says it will give fewer engagement updatesFox News · July 16, 2026Home Run Derby ratings crash on Netflix, sets 20-plus-year low as questions surface about program qualityInvestopedia · April 16, 2026Investors Don't Like Netflix's Latest Outlook—Or the News that Reed Hastings Is Moving On
Benzinga · July 17, 2026Goldman Sachs Maintains Buy on Netflix, Lowers Price Target to $94
Benzinga · July 17, 2026Piper Sandler Maintains Overweight on Netflix, Lowers Price Target to $85
Benzinga · July 17, 2026JP Morgan Maintains Overweight on Netflix, Lowers Price Target to $85
Benzinga · July 17, 2026Morgan Stanley Maintains Overweight on Netflix, Lowers Price Target to $83
Benzinga · July 17, 2026Why Is Paramount Skydance Stock Falling on Friday?
Benzinga · July 17, 2026KGI Securities Downgrades Netflix to Neutral, Announces $75 Price Target
Mt Newswire · July 17, 2026Netflix Stock Drop Attributable to Engagement Reporting Shift, Soft US, Canada Revenue, BofA Says
Benzinga · July 17, 2026Netflix Stock At 52-Week Lows: Analysts Highlight ‘Significant’ Long-Term Opportunity

Peers

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