These Analysts Slash Their Forecasts On Netflix After Q3 Results

Netflix Inc. (NASDAQ:NFLX) on Tuesday reported mixed results for the third quarter and narrowed its FY26 sales guidance below estimates. Also, the company issued its weak fourth-quarter sales guidance.

Netflix reported third-quarter revenue of $12.874 billion, up 12% year-over-year. The revenue total narrowly missed a Street consensus estimate of $12.876 billion, according to data from Benzinga Pro. The company reported earnings of 87 cents per share, beating a Street consensus estimate of 82 cents per share.

Guidance from the company calls for fourth-quarter revenue of $13.442 billion and earnings of 67 cents per share, versus Street estimates of $13.517 billion and 73 cents per share.

The company now expects full-year revenue of $51.1 billion, versus a prior range of $51.0 billion to $51.4 billion.

“Member response to our 2026 price changes is consistent with prior adjustments and our expectations , an indicator that our engagement – which encompasses quantity, quality and variety of viewing – remains healthy and that we continue to deliver strong value to members,” the company said.

Netflix shares fell 7% to $63.86 in pre-market trading.

These analysts made changes to their price targets on Netflix following earnings announcement.

• B of A Securities analyst Jessica Reif Ehrlich maintained the stock with a Buy and lowered the price target from $105 to $90.
• Morgan Stanley analyst Sean Diffley maintained the stock with an Overweight rating and cut the price target from $80 to $77.
• Rosenblatt analyst Barton Crockett maintained the stock with a Neutral and lowered the price target from $75 to $71.
• Needham analyst Laura Martin downgraded the stock from Buy to Hold.

Considering buying NFLX stock? Here’s what analysts think:

Photo via Shutterstock