Key Takeaways
- Q1 2026 earnings announcement scheduled for April 16
- Wedbush analysts increased their NFLX price target from $115 to $118, maintaining Buy recommendation
- Evercore ISI confirmed Outperform stance with $115 target price
- Analysts anticipate Q1 earnings per share of $0.79 alongside $12.18 billion in revenue (15.5% annual growth)
- Analyst consensus shows 30 Buy ratings among 39 total analysts, average target price at $115.84
As Netflix prepares to unveil its Q1 2026 financial results on April 16, the streaming giant is receiving renewed confidence from Wall Street analysts through upgraded price targets and positive outlooks.
Wedbush’s Alicia Reese increased her price objective on NFLX shares to $118, up from the previous $115 mark, while maintaining the firm’s Buy recommendation. Reese highlighted the company’s significant opportunities in worldwide advertising expansion and momentum from recent subscription price adjustments as primary drivers for the optimistic forecast. This updated target suggests approximately 15% potential appreciation from present trading levels.
Meanwhile, Evercore ISI maintained its positive stance, confirming an Outperform rating alongside a $115 price objective before the earnings announcement. The investment firm characterized Wall Street’s Q1 revenue projection of $12.2 billion — representing 15.5% year-over-year expansion — as achievable, supported by Netflix’s robust content offerings and benefits from 2025 pricing adjustments.
Netflix’s stock is currently valued at $103.42 per share, translating to a market capitalization of $436.87 billion.
Consensus Projections for Q1
Financial analysts are projecting Q1 earnings per share of $0.79, marking over 15% annual growth. Total revenue is anticipated to reach $12.18 billion.
Operating income forecasts stand at $3.94 billion, corresponding to a 32.4% operating margin.
Looking toward Q2, analysts expect revenue of $12.6 billion — representing 13.6% year-over-year expansion. Evercore ISI anticipates Netflix will either confirm or modestly increase its full-year 2026 outlook, which presently projects revenue ranging from $50.7 billion to $51.7 billion, a 31.5% operating margin, and $11 billion in free cash flow generation.
The streaming leader concluded 2025 with Q4 revenue totaling $12.05 billion, marking an 18% year-over-year increase that surpassed analyst estimates. Additionally, the platform surpassed 325 million paying subscribers by year’s end — a significant benchmark the company had been targeting across multiple quarters.
Market watchers will be particularly focused on whether membership expansion remained resilient during Q1 despite recent price increases, and the extent to which the advertising-supported subscription tier is driving revenue growth.
Broader Analyst Sentiment
In addition to Wedbush and Evercore ISI, several other prominent firms have shared their perspectives before the earnings release.
TD Cowen maintained a Buy rating with a $112 target, forecasting 4.56 million net new subscribers. Deutsche Bank elevated its target to $100 while keeping a Hold rating. Morgan Stanley increased its objective 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 potential from current valuations.
Wedbush also identified possible challenges — consumer price sensitivity in European markets and continuing legal matters could impact near-term investor sentiment, even as the advertising growth narrative remains compelling.
Netflix recorded $45.18 billion in trailing twelve-month revenue, with earnings per share of $2.53. The stock currently trades at a price-to-earnings ratio of 40.84.
