Bernstein Cuts Netflix (NFLX) Price Target to $80

On October 21, 2026, Bernstein reaffirmed its Outperform rating on Netflix, Inc. [NFLX] while adjusting its price target down to $80.00 from $95.00. The research note arrived as part of a wider wave of Wall Street updates on the entertainment company.

NFLX Netflix, Inc.

$68.69 ▼ -24.51% year to date

1M 3M YTD

Daily close · Oct 20, 2026

Bernstein's Call on Netflix, Inc.

In its October 21 research note, Bernstein kept an Outperform rating on the streaming platform while lowering the target price by $15.00 to $80.00. The previous target stood at $95.00.

Netflix, Inc. Stock Down 7.1%

Netflix shares closed at $68.69 on October 20, 2026. Recently, the stock traded around $65.54 as of October 21, 2026, which is about 4.6% below that prior close and roughly 47.5% below its 52-week high of $124.86.

Recent Earnings

Netflix reported $48.37 billion in trailing-twelve-month revenue with earnings per share at $3.18. The company runs with a net profit margin of 28.2% and a return on equity of 49.5%.

Insider Buying and Selling at Netflix, Inc.

Company insiders made several stock sales prior to the analyst updates. Chief Executive Officer Gregory K. Peters sold 27,312 shares on August 6, 2026, for over $2.0 million. Chief Financial Officer Spencer Adam Neumann sold 9,248 shares on August 10, 2026, valued at approximately $700,907. Director Richard N. Barton also completed two sales in September 2026.

Analysts Set New Price Targets

Several other firms chimed in on October 21, 2026. TD Cowen kept a Buy rating and a $100.00 target. Piper Sandler maintained an Overweight rating and cut its target to $78.00 from $85.00. Evercore ISI Group kept an Outperform rating while reducing its target to $90.00 from $110.00. Barclays maintained an Equal-Weight rating and lowered its target to $65.00 from $70.00. Guggenheim kept a Buy rating with a target moved to $78.00 from $80.00. Overall, the stock holds a consensus buy recommendation with a mean target price of $91.13 based on 45 analyst opinions.

About Netflix, Inc.

Based in Los Gatos, California, Netflix provides digital entertainment services around the globe. The company delivers television series, documentaries, feature films, games, and live programming to millions of members via internet-connected devices like TVs, digital media players, and mobile phones.

Bottom Line

Investors continue to monitor shifting analyst expectations and valuation levels for the streaming giant. Watch for upcoming corporate updates and earnings reports to gauge how subscriber growth and profit margins evolve through the rest of the year.