Citigroup Cuts Netflix (NFLX) Price Target to $85

On October 21, 2026, Citigroup reiterated its Buy rating on Netflix, Inc. (NASDAQ:NFLX) while lowering its price target from $100.00 to $85.00. According to the firm's research note issued that day, the updated target reflects a downward adjustment from its previous goal of $100.00 even as the firm keeps a positive long-term view on the shares. Netflix, Inc. closed at $65.04 on October 21, 2026.

NFLX Netflix, Inc.

$68.69 ▼ -24.51% year to date

1M 3M YTD

Daily close · Oct 20, 2026

Citigroup's Call on Netflix, Inc.

In its research update published on October 21, 2026, Citigroup maintained a Buy rating on Netflix, Inc. while reducing its price target to $85.00 from $100.00. The rating represents the firm's forward-looking perspective on the company's entertainment streaming model.

Netflix, Inc. Stock Down 7.8%

Netflix, Inc. shares recently traded around $65.05 as of October 21, 2026. The stock trades below its 50-day moving average of $75.01 and sits below its 200-day moving average of $82.76.

Recent Earnings

Netflix posted trailing-twelve-month revenue of $48.37 billion alongside a trailing-twelve-month basic earnings per share of $3.18. The company's profitability is supported by a net profit margin of 28.2% and a return on equity of 49.5%. The stock carries a price-to-earnings ratio of 21.97 and a forward P/E ratio of 18.38.

Dividend

Netflix, Inc. currently pays no dividend, reporting a dividend payout ratio of 0.0% and a dividend yield of 0.0%.

Insider Buying and Selling at Netflix, Inc.

Company insiders completed several stock sales prior to the analyst updates. On August 6, 2026, Chief Executive Officer Gregory K. Peters sold 27,312 shares at an average price of $73.54, totaling $2,008,606.00. Later, on August 10, 2026, Chief Financial Officer Spencer Adam Neumann sold 9,248 shares at an average price of $75.79, totaling $700,907.00. Director Richard N. Barton also completed two sales in September 2026, including 720 shares sold on September 8 at $77.60 and 1,440 shares sold on September 10.

Analysts Set New Price Targets

Other Wall Street firms adjusted their views on October 21, 2026, with UBS maintaining a Buy rating and lowering its target from $115.00 to $100.00. Oppenheimer maintained an Outperform rating while trimming its target from $85.00 to $80.00. Morgan Stanley kept its Overweight rating and adjusted its target from $80.00 to $77.00. JP Morgan also maintained an Overweight rating while moving its target from $85.00 to $81.00. Across the broader analyst community, 45 analysts currently cover the stock with a consensus recommendation key of buy and a mean target of $91.13.

About Netflix, Inc.

Netflix, Inc. provides digital entertainment services to members worldwide through internet-connected devices. The company offers television series, feature films, documentaries, games, and live programming across multiple genres and languages. Founded in 1997, the company operates out of its headquarters in Los Gatos, California.

Bottom Line

Investors tracking Citigroup's updated view will want to watch upcoming earnings reports and subsequent Wall Street research notes for further shifts in sentiment. The stock continues to navigate shifting market conditions as analysts adjust their price objectives.