TLDR
- Q1 2026 earnings scheduled for April 16
- Wedbush analyst upgrades price target from $115 to $118 while maintaining Buy rating
- Evercore ISI maintains Outperform stance with $115 target
- Consensus estimates call for Q1 EPS of $0.79 on revenue of $12.18 billion, representing 15.5% annual growth
- Analyst community heavily favors the stock: 30 Buy ratings among 39 total analysts, average target of $115.84
The streaming platform prepares to unveil its first quarter 2026 financial results on April 16, backed by fresh optimism from Wall Street analysts who have recently adjusted their outlooks upward.
Wedbush’s Alicia Reese increased her valuation on NFLX from $115 to $118 while affirming the firm’s Buy recommendation. Reese highlighted the company’s expanding global advertising opportunities and momentum from recent subscription pricing adjustments as primary drivers supporting her enhanced outlook. This revised target suggests approximately 15% appreciation potential from present trading levels.
Evercore ISI maintained its positive stance, affirming an Outperform rating alongside a $115 valuation ahead of the upcoming financial disclosure. The investment bank characterized consensus projections calling for Q1 revenue of $12.2 billion — reflecting 15.5% annual expansion — as achievable given the platform’s content slate and favorable impact from 2025 pricing increases.
Netflix’s stock currently trades at $103.42, giving it a market cap of $436.87 billion.
What the Street Is Expecting
Analyst consensus points to Q1 earnings per share of $0.79, which would mark more than 15% growth compared to the same period last year. Top-line revenue is projected at $12.18 billion.
Operating income forecasts stand at $3.94 billion, translating to a 32.4% margin.
Looking toward the second quarter, Wall Street anticipates revenue reaching $12.6 billion — representing 13.6% year-over-year expansion. Evercore ISI expects Netflix will likely affirm or modestly increase its full-year 2026 outlook, which presently targets revenue between $50.7 billion and $51.7 billion, a 31.5% operating margin, and $11 billion in free cash flow generation.
The company concluded 2025 with fourth quarter revenue of $12.05 billion, representing 18% annual growth and surpassing analyst projections. The platform also achieved a significant milestone by surpassing 325 million paid memberships by year-end — a threshold management had been working toward across multiple quarters.
Market participants will closely monitor whether subscriber momentum persisted during Q1 following the latest pricing adjustments, along with the revenue contribution from the advertising-supported subscription tier.
Analyst Views Across the Street
Several additional investment firms have refreshed their perspectives ahead of the earnings announcement.
TD Cowen maintained a Buy recommendation with a $112 valuation, 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 durable double-digit revenue expansion prospects. Barclays maintained an Equalweight rating at $115.
Among the 39 analysts tracking NFLX, 30 assign it a Buy rating and nine assign it a Hold. The consensus price target stands at $115.84, suggesting approximately 13% appreciation potential from current trading levels.
Wedbush also identified possible challenges — pricing sensitivity in European markets and continuing legal matters could pressure near-term investor sentiment, even as the advertising narrative remains compelling.
The streaming platform generated $45.18 billion in revenue over the trailing twelve months, with earnings per share of $2.53. The stock currently carries a P/E ratio of 40.84.
