Netflix stock falls as Wells Fargo cuts target to $57

Published on 09/23/2026 at 11:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Netflix stock traded at $71.96 on September 23, 2026, down 1.91 percent. Q2 revenue reached $12.56 billion and net profit was $3.4 billion.

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Netflix, Inc. (ISIN US64110L1061) stock traded at USD 71.96 on Nasdaq on September 23, 2026, down USD 1.40, or 1.91 percent, as the latest analyst downgrade sharpened concerns about engagement and upcoming content. The shares were near the lower end of their USD 65.08 to USD 124.86 52-week range, while market capitalization stood at USD 299.62 billion.

Wells Fargo cuts target to USD 57

According to Yahoo Finance on September 22, 2026, Wells Fargo analyst Steven Cahall downgraded Netflix from Equal Weight to Underweight and lowered the price target from USD 80 to USD 57. The report attributed the change to weaker audience engagement and concerns about Netflix's original-content schedule.

The gap between the bearish target and the September 23 market price was USD 14.96, while the target was USD 67.86 below the 52-week high. That contrast makes the next earnings update important because the valuation debate now depends on whether operating growth can offset softer engagement indicators.

Quarterly figures remain substantial

Netflix reported quarterly revenue of USD 12.56 billion and net profit of USD 3.4 billion for the quarter ended June 30, 2026, according to TipRanks on September 22, 2026. Netflix also repurchased USD 4.7 billion of stock in the second quarter, its largest quarterly buyback according to the reported shareholder-letter figures cited by 247 Wall St on September 22, 2026.

The operating counterweight is full-year 2026 guidance for revenue of USD 51.0 billion to USD 51.4 billion, a 31.5 percent operating margin and approximately USD 12.5 billion of free cash flow, as reported by 247 Wall St. The revenue guidance range is more than four times the latest quarterly revenue, but the comparison covers different periods and is not a growth rate.

October 20 results set the checkpoint

Netflix is scheduled to report third-quarter 2026 financial results on October 20, 2026, according to Yahoo Finance. The release should provide the next dated test of revenue delivery, margin performance and viewer engagement after the conflicting target revisions.

Netflix stock closed at USD 71.96 on Nasdaq on September 23, 2026, with volume of 16.99 million shares and market capitalization of USD 299.62 billion. The 52-week range remained USD 65.08 to USD 124.86.