▼ Negative
Listen free
Netflix analysts cut price targets ahead of Tuesday Q3 earnings: Wedbush to $90, Morgan Stanley to $80
What happened
Two more analysts trimmed Netflix price targets on Friday ahead of the company's Q3 earnings report on Tuesday, October 20. Wedbush cut its target to $90 from $105 while keeping an outperform rating, and shares fell 2.9% on the day. Morgan Stanley trimmed its target to $80 from $83 but kept an overweight rating, pointing to early signs of improvement from fresh content and licensing deals. Options pricing implies a swing of up to 9% in either direction by end of week after results, which could take shares to a two-year low near $64 or back toward $77.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- Netflix (NFLX, -2.9% Friday to about $70.50; down ~25% year to date); streaming peers and attention-economy names face read-through if engagement weakness is confirmed (YouTube/Alphabet has been gaining U.S. TV time share).