Key Highlights
- Q1 2026 earnings scheduled for April 16
- Wedbush increases NFLX price target from $115 to $118 while maintaining Buy rating
- Evercore ISI confirms Outperform rating with $115 target
- Consensus estimates project Q1 EPS at $0.79 with revenue reaching $12.18 billion (up 15.5% YoY)
- Analyst sentiment remains bullish: 30 Buy ratings among 39 total analysts, average target of $115.84
As Netflix prepares to unveil its first-quarter 2026 financial results on April 16, the streaming giant is receiving renewed confidence from Wall Street analysts who have recently upgraded their price targets.
Wedbush’s Alicia Reese has elevated her price objective for NFLX to $118, up from the previous $115 mark, while maintaining her Buy recommendation. Reese highlighted the company’s expanding advertising business globally and the positive momentum from recent subscription price adjustments as primary catalysts supporting her bullish stance. This revised target suggests approximately 15% potential upside based on current trading levels.
Meanwhile, Evercore ISI has reaffirmed its Outperform stance with a $115 price objective ahead of the quarterly announcement. The firm believes Wall Street’s Q1 revenue projection of $12.2 billion—representing 15.5% annual growth—appears well-founded, considering Netflix’s robust content slate and the favorable impact from 2025’s pricing strategy.
Netflix’s stock is currently changing hands at $103.42, translating to a market capitalization of $436.87 billion.
Street Consensus for Q1 Performance
Analysts are projecting first-quarter earnings per share of $0.79, which would mark growth exceeding 15% compared to the same period last year. Revenue expectations stand at $12.18 billion.
Operating income forecasts point to $3.94 billion, translating to a 32.4% operating margin.
Looking toward Q2, Wall Street anticipates revenue of $12.6 billion—representing 13.6% year-over-year expansion. Evercore ISI anticipates that Netflix will either hold steady or marginally increase its full-year 2026 outlook, which presently targets revenue in the $50.7 billion to $51.7 billion range, a 31.5% operating margin, and $11 billion in free cash flow generation.
The streaming leader wrapped up 2025 with fourth-quarter revenue of $12.05 billion, climbing 18% year-over-year and slightly surpassing analyst predictions. By year-end, the platform had surpassed 325 million paid memberships—a significant benchmark the company had been working toward throughout multiple quarters.
Market participants will be closely monitoring whether subscriber momentum continued through Q1 despite the latest price increases, and the extent to which the advertising-supported subscription tier is driving revenue.
Broader Analyst Perspectives
Beyond the updates from Wedbush and Evercore ISI, several additional firms have refreshed their positions leading into the earnings release.
TD Cowen maintained its Buy recommendation with a $112 target, forecasting net subscriber additions of 4.56 million. Deutsche Bank elevated its target to $100 while keeping a Hold rating. Morgan Stanley increased its target to $115 with an Overweight rating, emphasizing sustainable double-digit revenue expansion. Barclays maintained an Equalweight rating at $115.
Among the 39 analysts tracking NFLX, 30 recommend buying the stock while nine hold neutral positions. The consensus price target stands at $115.84, suggesting approximately 13% upside potential from present levels.
Wedbush also identified possible challenges—including pricing pushback in European markets and continuing legal matters that could impact near-term investor sentiment, even as the advertising narrative remains compelling.
Netflix has delivered $45.18 billion in trailing twelve-month revenue, with EPS of $2.53. The shares currently trade at a price-to-earnings ratio of 40.84.
