Key Takeaways
- Q1 2026 earnings scheduled for Netflix on April 16
- Wedbush Securities increased NFLX price objective to $118 (previously $115), maintaining Buy recommendation
- Evercore ISI maintained Outperform rating alongside $115 price objective
- Analyst consensus anticipates Q1 earnings per share of $0.79 with revenue reaching $12.18 billion, reflecting 15.5% annual growth
- Among 39 Wall Street analysts, 30 recommend buying NFLX with a consensus target of $115.84
The streaming giant is preparing for its first-quarter 2026 financial results scheduled for April 16, accompanied by several bullish analyst revisions and elevated price projections.
Wedbush Securities analyst Alicia Reese increased her NFLX price objective to $118 from the previous $115 mark while maintaining her Buy recommendation. Her rationale centers on robust expansion opportunities in international advertising markets and momentum from the company’s latest pricing adjustments. This revised target suggests approximately 15% appreciation potential from present trading levels.
Evercore ISI similarly reinforced its positive stance, maintaining an Outperform designation with a $115 price objective prior to the earnings announcement. The firm characterized Wall Street’s consensus projection of $12.2 billion in Q1 revenue — representing 15.5% year-over-year expansion — as achievable, citing Netflix’s content slate and benefits from 2025 subscription price increases.
Netflix’s stock is currently valued at $103.42, translating to a market capitalization of $436.87 billion.
Consensus Expectations for First Quarter
Analysts are projecting first-quarter earnings per share of $0.79, which would mark over 15% annual expansion. Revenue projections stand at $12.18 billion.
Operating profit is forecasted at $3.94 billion, yielding a 32.4% operating margin.
Looking toward Q2, Wall Street anticipates revenue of $12.6 billion — reflecting 13.6% year-over-year growth. Evercore ISI expects Netflix will either reaffirm or modestly increase its full-year 2026 outlook, which presently calls for revenue spanning $50.7 billion to $51.7 billion, a 31.5% operating margin, and $11 billion in free cash flow generation.
The streaming platform concluded 2025 with fourth-quarter revenue of $12.05 billion, representing 18% annual growth and slightly exceeding projections. The company also surpassed 325 million paid memberships by year-end — a benchmark it had been pursuing for multiple quarters.
Market participants will closely monitor whether membership expansion maintained momentum during Q1 despite recent pricing increases, and assess the revenue contribution from the advertising-supported subscription tier.
Wall Street Sentiment Roundup
In addition to Wedbush and Evercore ISI, several other financial institutions have refreshed their perspectives before the earnings release.
TD Cowen maintained a Buy recommendation with a $112 target, forecasting 4.56 million net membership additions. Deutsche Bank elevated its target to $100 while keeping its Hold designation. 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 assign Buy ratings while nine recommend Hold. The consensus price target stands at $115.84, suggesting approximately 13% upside from current valuations.
Wedbush also identified potential challenges — pricing resistance across European markets and continuing legal battles could pressure near-term investor sentiment, despite the overall advertising narrative remaining positive.
Netflix produced $45.18 billion in trailing twelve-month revenue, with earnings per share of $2.53. The stock currently trades at a price-to-earnings multiple of 40.84.
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