Shares of streaming giant Netflix Inc (NASDAQ:NFLX) fell after the company reported first-quarter financial results and guidance Thursday.

Analysts lower their price targets on the stock, but see a potential buying opportunity for investors.

  • Rosenblatt analyst Barton Crockett maintained a Neutral rating on Netflix stock and lowered the price target from $96 to $95.
  • Guggenheim analyst Michael Morris maintained a Buy rating and lowered the price target from $130 to $120.
  • Needham analyst Laura Martin maintained a Buy rating with a price target of $120.
  • JPMorgan analyst Doug Anmuth maintained an Overweight rating and lowered the price target from $120 to $118.

Rosenblatt

In a new investor note, Crockett said second-quarter guidance is "slight downside" from Netflix, but comes with full-year guidance reiterated.

"So maybe this is just a wobble that everyone should ignore," Crockett said.

The analyst said a 10% drop in Netflix's share price signals investors fear the worst and are likely reacting negatively to news that co-founder Reed Hastings is exiting the company.

"Our base case remains: Netflix, we believe, is a strong company – growing Adj. EBITDA at a 24% CAGR 2025A-2027E, and revenues at a 15% CAGR – but one that is maturing."

Crockett highlighted the company's guidance for full-year advertising revenue doubling year-over-year along with record engagement hit in 2025 and the first quarter.

Guggenheim

Netflix beating analyst estimates and maintaining full-year guidance was not enough for investors, Morris said in a new investor note.

"Management has high conviction that the business can maintain its leadership position and at only 5% of global TV share and <45% broadband household penetration has a long growth runway ahead," Morris said.

The analyst said engagement trends "remained healthy" in the first quarter.

Morris highlighted Netflix seeing record paid net additions for Japan thanks to its rights to stream the World Baseball Classic, an example of what live sports can mean for the company's growth.

Needham

Netflix launching new mobile engagement products like vertical video, video podcasts and kids games could be keys to increase prices and limit churn going forward, Martin said in a new investor note.

"Managing fandoms is what YouTube influencers do best and is, therefore, every media company's ‘job to be done,' we believe. In old media, NFLX does this best," Martin said.

The analyst said Netflix has a history of being an early adopter in new technology, which could pay off for its increased engagement figures in the quarter.

"Monetization follows time spent, we believe."

Martin said Netflix stock is a buy on weakness.

JPMorgan

A price increase from Netflix is already factored into the company's full-year revenue outlook, Anmuth said in a new investor note.

"We understand that some will be disappointed with no increase to the 2026 outlook on either the top or bottom line, despite 1Q upside," Anmuth said.

The analyst said Netflix is executing well and has "considerable growth headroom."

"We'd buy weakness."

Price Action: Netflix stock is down 10.5% to $96.49 on Friday versus a 52-week trading range of $75.01 to $134.12. Netflix stock is up 6% year-to-date in 2026, with shares now down 0.8% over the last 52 weeks.

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