Although Netflix (NASDAQ: NFLX) stock is starting 2026 on a weaker note, Wall Street remains bullish on the equity’s long-term prospects.
Attention is focused on Netflix as the company prepares to report fourth-quarter 2025 earnings on January 20, with investors watching operating performance and the balance-sheet impact of its landmark $82.7 billion push to acquire Warner Bros. Discovery assets.
Wall Street expects revenue of $11.97 billion, up 16.8% year over year, and post-split earnings per share of $0.55. The holiday quarter was supported by a strong content slate, with global memberships estimated to have surpassed 312 million, though Netflix no longer reports subscriber additions.
The earnings release follows a volatile period for the stock. After executing a 10-for-1 split in November 2025, Netflix shares have fallen about 33% from mid-year highs, trading near $90–$95, as investors weigh the risks of funding the Warner Bros. acquisition with roughly $59 billion in new debt.
As of press time, NFLX was trading at $89, up nearly 1% on the day, while the stock is down about 4.5% year to date.
Wall Street NFLX stock price prediction
On the outlook, Wall Street analysts tracked by TipRanks show Netflix with a ‘Moderate Buy’ consensus rating, based on 27 ‘Buy’, 9 ‘Hold’, and 2 ‘Sell’ recommendations.
The average 12-month price target stands at $129.47, implying 43.9% upside. Estimates range from a high of $152.50 to a low of $92.
On January 12, HSBC analyst Mohammed Khallouf initiated coverage with a ‘Buy’ rating and a $107 price target, arguing that Netflix is undervalued after trading about 33% below its summer 2025 peak. HSBC sees upside from deeper monetization, improving profitability, and strong international growth, offsetting a maturing U.S. market. However, the firm noted that Netflix’s roughly $83 billion bid for Warner Bros. Discovery underscores the pressures facing a maturing streaming industry, even as it calls Netflix the undisputed global streaming leader with more than 300 million subscribers.
Goldman Sachs maintained a ‘Neutral’ rating but cut its price target to $112 from $130 ahead of fourth-quarter earnings. The bank expects a solid finish to 2025, citing execution across original content, live entertainment, gaming, and advertising. It also highlighted the success of NFL Christmas Day programming as evidence of Netflix’s live-content momentum, while flagging the need for greater clarity on regulatory approval, financing, and integration risks tied to the Warner Bros. Discovery deal.
Meanwhile, CFRA downgraded Netflix to ‘Hold’ from ‘Buy’ and lowered its price target to $100 from $130, citing concerns over the Warner Bros. Discovery acquisition. The firm pointed to Netflix’s limited history of large acquisitions, Warner’s high debt load, and the risk of a potential bidding war with Paramount that could further increase debt financing needs.
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