Oppenheimer Cuts Netflix (NFLX) Price Target to $80

Oppenheimer maintained its Outperform rating on Netflix, Inc. (NASDAQ:NFLX) on October 21, 2026, while lowering its price target from $85.00 to $80.00. The firm delivered its research note on the streaming and entertainment company as part of a broader round of Wall Street updates.

NFLX Netflix, Inc.

$68.69 ▼ -24.51% year to date

1M 3M YTD

Daily close · Oct 20, 2026

Oppenheimer's Call on Netflix, Inc.

In its note on October 21, 2026, Oppenheimer kept an Outperform rating on Netflix, Inc. while reducing its target from $85.00 to $80.00. Several other firms weighed in on the same day, including Morgan Stanley maintaining an Overweight rating and adjusting its target from $80.00 to $77.00, JP Morgan keeping an Overweight rating with a target lowered from $85.00 to $81.00, TD Cowen reiterating a Buy rating with an unchanged target of $100.00, and Piper Sandler maintaining an Overweight rating while moving its target from $85.00 to $78.00. Across 45 analyst opinions, the stock currently carries a consensus buy recommendation with a mean price target of $91.13.

Netflix, Inc. Stock Down 7.8%

Netflix, Inc. shares recently traded around $65.77 as of October 21, 2026, down about 4.3% from their prior close of $68.69 on October 20, 2026. The stock trades below its 50-day moving average of $75.01 and its 200-day moving average of $82.76. The company carries a market capitalization of roughly $290.85 billion.

Recent Earnings

Netflix, Inc. generates $48.37 billion in trailing-twelve-month revenue with earnings of $3.18 per share. The company posts a net profit margin of 28.2% and a return on equity of 49.5%, with year-over-year quarterly revenue growth standing at 13.4%.

Dividend

Netflix, Inc. does not pay a dividend, maintaining a payout ratio of 0.0% as it reinvests earnings into its global entertainment operations.

Insider Buying and Selling at Netflix, Inc.

Company insiders completed several transactions prior to the analyst updates. Chief Executive Officer Gregory K. Peters sold 27,312 shares on August 6, 2026, at $73.54 for a total value of $2,008,606. Chief Financial Officer Spencer Adam Neumann sold 9,248 shares on August 10, 2026, at $75.79 worth $700,907. Director Richard N Barton sold 720 shares on September 8, 2026, at $77.60 valued at $55,872, and later sold 1,440 shares on September 10, 2026, valued at $109,102.

About Netflix, Inc.

Netflix, Inc. provides digital entertainment services across the globe. The company delivers television series, documentaries, feature films, mobile games, and live programming spanning multiple languages and genres. Members access content via internet-connected devices such as smart TVs, streaming players, set-top boxes, and mobile hardware. Founded in 1997, the company is headquartered in Los Gatos, California.

Bottom Line

Oppenheimer's revised target reflects ongoing adjustments among Wall Street analysts covering the streaming provider. Investors will look to upcoming quarterly financial reports for further guidance on subscriber trends and profitability metrics.