JP Morgan Cuts Netflix (NFLX) Price Target to $81

JP Morgan reaffirmed its Overweight rating on Netflix, Inc. (NasdaqGS: NFLX) on October 21, 2026, while adjusting its price target downward from $85.00 to $81.00. The note reflects the firm's forward-looking view on the streaming provider as shares navigate a period of broader market pressure. Netflix closed at $68.69 on October 20, 2026, and recently traded at $65.77 on October 21, 2026.

NFLX Netflix, Inc.

$68.69 ▼ -24.51% year to date

1M 3M YTD

Daily close · Oct 20, 2026

JP Morgan's Call on Netflix

In its research note on October 21, 2026, JP Morgan kept its Overweight rating on the company while trimming the price target to $81.00 from its previous target of $85.00. The updated target sits above where the stock recently changed hands, though shares remain under pressure relative to historical trading bands.

Netflix, Inc. Stock Down 7.8%

Netflix recently traded around $65.77 as of October 21, 2026, sitting down about 4.3% from its previous close of $68.69 on October 20, 2026. The stock's recent price is below its 50-day moving average of $75.01 and its 200-day moving average of $82.76. It trades near its 52-week low of $65.08, well off its 52-week high of $124.86.

Recent Earnings

Netflix reported trailing-twelve-month revenue of $48.37 billion alongside trailing earnings of $3.18 per share. The company posted a net profit margin of 28.2% and a return on equity of 49.5%, backed by a year-over-year revenue growth rate of 13.4%.

Insider Buying and Selling at Netflix, Inc.

Company insiders executed several transactions prior to the rating update, including sales by Chief Executive Officer Gregory K. Peters and Chief Financial Officer Spencer Adam Neumann.

Analysts Set New Price Targets

Other major Wall Street firms updated their views on October 21, 2026, with Oppenheimer maintaining an Outperform rating and a target of $80.00, Morgan Stanley keeping an Overweight rating with a target of $77.00, TD Cowen reiterating a Buy rating with a target of $100.00, and Piper Sandler maintaining an Overweight rating with a target of $78.00. Across the broader analyst community, the stock holds a buy consensus rating backed by 45 opinions and a mean price target of $91.13.

About Netflix

Netflix, Inc. provides entertainment services worldwide, offering TV series, documentaries, feature films, games, and live programming. Members access streaming content through a variety of internet-connected devices, including televisions, digital video players, set-top boxes, and mobile platforms. Founded in 1997 and headquartered in Los Gatos, California, the company reaches audiences globally across multiple genres and languages.

Bottom Line

Investors will watch how the stock performs relative to JP Morgan's new $81.00 target as the streaming giant approaches its upcoming financial updates. The wide gap between current market prices and analyst projections highlights ongoing shifts in valuation across the entertainment sector.