Goldman Sachs has become the latest Wall Street heavyweight to revise its outlook on Netflix (NASDAQ: NFLX) ahead of the company’s second-quarter earnings.
In a July 2 note, Goldman analyst Eric Sheridan cited growing confidence in Netflix’s ability to sustain its momentum through the second half of 2025.
He credited the platform’s diverse content lineup and resilient user engagement as core drivers of its ongoing strength.
“In the current environment and given Netflix’s robust content slate during the second half of 2025, we would expect consumption habits, retention, monetization trends, and user growth to remain resilient,” the analyst said.
Sheridan highlighted stable consumption patterns, strong subscriber retention, and improving monetization as signs that Netflix remains well-positioned, even amid intensifying competition in the streaming space.
He also noted increasing investor focus on how Netflix manages pricing in mature markets, boosts average revenue per user, and navigates a landscape crowded not only by traditional rivals like YouTube and Peacock, but also by attention-grabbing platforms such as TikTok and Instagram.
Sheridan pointed to Netflix’s growing push into live entertainment, including sports and concerts, as a potential differentiator that could further enhance engagement.
NFLX price target
Reflecting these trends and recent intra-quarter insights, Goldman Sachs raised its 12-month price target on Netflix stock from $1,000 to $1,140 while maintaining a ‘Neutral’ rating.
The revised target implies a roughly 11% downside from the previous session’s close of $1,293.
Despite Goldman’s tempered view, most of Wall Street remains optimistic. Of the 37 analysts tracked by TipRanks, the consensus maintains a ‘Strong Buy’ rating, though their average price forecast sits slightly lower at $1,258.
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