What's Going On With Netflix Stock Wednesday?
Netflix Inc. (NASDAQ:NFLX) stock rose Wednesday, extending a multiday rebound as investors weighed fresh institutional backing for the streaming giant.
The Nasdaq gained 0.11%, while the S&P 500 rose 0.48%.
Billionaire investor Bill Ackman’s Pershing Square disclosed a 3.15 million-share Netflix position in its interim financial report for the six months ended June 30. The investment represented 4.9% of the fund’s portfolio.
Pershing Square Says Netflix Won Streaming Wars
Explaining its decision to return to Netflix, Pershing Square said, “Netflix has since effectively won the streaming wars.”
The firm expects Netflix to deliver double-digit revenue growth while content costs rise at a slower pace. That combination could support continued margin expansion.
Pershing Square also said Netflix’s “current valuation multiple represents a substantial discount.”
Technical Analysis
NFLX is showing signs of improving short-term momentum after falling 33.57% over the past 12 months.
Shares trade 8.6% above the 20-day simple moving average of $74.27 and 8.1% above the 50-day SMA of $74.60.
However, the stock remains 9.1% below its 200-day SMA of $88.73. It also remains under a death cross formed in December 2025.
The moving average convergence divergence indicator is above its signal line, suggesting momentum is improving. Resistance sits near $91.50, while support stands near $71.
Analyst Outlook
The stock has a Buy consensus rating and an average price forecast of $91.62. Recent analyst moves include:
- Goldman Sachs: Buy (Lowers forecast to $94.00) (July 17)
- Baird: Outperform (Lowers forecast to $90.00) (July 22)
- Morgan Stanley: Overweight (Lowers forecast to $83.00) (July 17)
Netflix Price Action
NFLX Price Action: Netflix shares were up 3.82% at $80.74 at the time of publication Wednesday, according to Benzinga Pro data.
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