Netflix Stock in Focus: A Look at the Earnings, Analyst Activity, Technical Picture

Netflix Inc. (NASDAQ:NFLX) shares are in the spotlight Thursday, with earnings on deck, fresh analyst activity and a key technical level all converging.

• Netflix stock is trading near recent lows. What’s ahead for NFLX stock?

Earnings Preview & History

Netflix is expected to report earnings per share of 79 cents along with revenue of $12.58 billion. For the prior quarter, Netflix reported earnings per share of 70 cents, missing the consensus estimate of 76 cents. Netflix also posted revenue of $12.25 billion, beating the consensus estimate of $12.17 billion.

Netflix has beaten EPS estimates in two of the last four quarters and topped revenue estimates in three of the last four.

What To Watch

Since Netflix no longer discloses quarterly subscriber counts, the focus shifts to advertising momentum, with the ad-supported tier on track toward a $3 billion revenue target for 2026. Operating margin will also be closely watched, guided at 32.6% for the quarter as content amortization costs peak.

Forward guidance for the third quarter and full year will likely carry more weight than the headline beat or miss, especially with the stock down more than 20% this year and Wall Street looking for confirmation that engagement and pricing power can offset slowing subscriber growth.

Analyst Consensus & Recent Actions

The stock carries a Buy Rating with an average price target of $109.54. Notable recent moves include:

• Guggenheim: Buy (Lowered Target from $120.00 to $120.00) (July 15)
• Morgan Stanley: Overweight (Lowered Target from $115.00 to $90.00) (July 14)
• Rosenblatt: Neutral (Target $95.00) (July 14)

A Downtrend Trying to Stabilize

Netflix is still in a longer-term downtrend: it’s trading 8.6% below its 50-day SMA ($81.27) and 21.2% below its 200-day SMA ($94.23), with a bearish "death cross" (50-day below 200-day) that formed in December 2025. The stock is also slightly below its 20-day SMA ($74.50), so it hasn’t clearly reclaimed the near-term trend line yet.

For momentum, MACD is the cleaner read right now: it’s above its signal line and the histogram is positive, which points to downside pressure easing versus the prior downswing even if the bigger trend hasn’t flipped. In plain terms, MACD above the signal line often shows buyers are gaining traction relative to the recent baseline.

A practical level to watch is whether the stock can build acceptance back above the 20-day EMA ($75.70), which would help confirm that the bounce is more than just a one-off pop. On the downside, the chart is still sitting close to the June swing low area, so failed rebounds can quickly turn into another support test.

• Key Resistance: $78.50 — a nearby ceiling where rebounds can stall, sitting below the 50-day average and near a logical pivot zone
• Key Support: $71.00 — a nearby floor near the 52-week low area ($70.86), where buyers may try to defend again

Netflix Shares Edge Higher

NFLX Price Action: At the time of publishing, Netflix shares are trading 0.84% higher at $74.30, according to data from Benzinga Pro.

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