Netflix, Inc. (NFLX) Stock Price & How to Invest

Netflix, Inc. is the world's largest subscription video streaming service, delivering movies, TV series, documentaries, and increasingly live events to more than 325 million paid memberships globally. It makes money primarily from recurring monthly subscription fees across tiered plans, and it has added a growing second revenue stream through advertising on its lower-priced ad-supported tier. The company spends heavily on content, both licensed and original, and its scale lets it amortize that spending across a huge global base, which is the core of its competitive advantage over smaller streamers.

The mid-2026 picture is one of maturing growth channeled into profitability. Q1 2026 revenue was about $12.25 billion, up roughly 16% year over year, with earnings per share well ahead of expectations, and the company maintained full-year revenue growth guidance of 12% to 14% with an operating margin target around 31.5%. Netflix has stopped reporting quarterly subscriber counts, signaling a shift in focus from membership numbers to revenue and margins. Growth now leans on several levers: price increases, the crackdown on password sharing that converted shared viewers into paying members, an advertising business the company aims to roughly double to about $3 billion in 2026 (with its advertiser base up around 70% to over 4,000), and a push into live programming including NFL games, WWE, boxing, and MLB. Netflix competes for viewing time against Amazon Prime Video, Disney+, Hulu, HBO Max, Apple TV+, and YouTube.

The dominant risk is valuation: Netflix trades at a premium multiple, so the stock prices in continued margin expansion and revenue diversification, and any stumble in growth or profitability could compress the multiple sharply. Competition for viewing time is intense and well-funded, with Amazon Prime Video, Disney+, Hulu, HBO Max, Apple TV+, and YouTube all fighting for attention, and price fatigue could raise churn as Netflix keeps lifting prices. Content and live-sports rights are expensive, and a misjudged bet on programming or sports economics could weigh on margins. The advertising business is still young and must scale against established digital ad giants. Netflix has also stopped reporting quarterly subscriber counts, which reduces visibility into a key demand signal, and slowing growth in mature markets, currency swings, and any content-quality slip are ongoing concerns for a stock priced for continued execution.

45 analysts publish price targets on NFLX, averaging $94.33 against a $71.71 price as of August 2026, or +31.5%. The published targets run from $70.00 to $135.00, a moderate spread, and the ratings split 36 buy, 15 hold, 0 sell. Over the last six months there have been 0 raises and 11 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full NFLX forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Netflix, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Advertising as a second growth engine. Netflix is aggressively scaling its ad-supported tier, targeting roughly $3 billion in advertising revenue in 2026, which would be about double the prior year, with its advertiser base reported up around 70% to over 4,000. The most optimistic published target, $135.00, assumes this works close to its best case.

The case against. The dominant risk is valuation: Netflix trades at a premium multiple, so the stock prices in continued margin expansion and revenue diversification, and any stumble in growth or profitability could compress the multiple sharply. The most pessimistic target, $70.00, is roughly what NFLX is worth if this bites instead.

Read the full bull and bear case on NFLX, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Netflix, Inc.'s investor relations page or your broker.

• Q1 2026 revenue: ~$12.25 billion, up ~16% year over year (approximate; verify live)
• Paid memberships: More than ~325 million globally; Netflix no longer reports this quarterly (approximate; verify live)
• 2026 revenue growth guide: ~12% to 14% for the full year (approximate; verify live)
• Operating margin target: ~31.5% for 2026 (approximate; verify live)
• Advertising revenue goal: ~$3 billion in 2026, roughly double the prior year (approximate; verify live)
• Valuation framing: Premium P/E in the low-to-mid 20s range on some measures; verify live multiples

Figures are approximate, tied to the asOf date, and should be verified against live sources before acting. Netflix trades at a premium valuation relative to traditional media companies, so its multiple reflects expectations of continued double-digit revenue growth and margin expansion rather than a bargain price. The stock tends to react to revenue growth, operating margin, advertising traction, and engagement commentary rather than to subscriber counts, which the company no longer reports each quarter. A premium multiple leaves less room for error if growth slows.

If you want NFLX exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses NFLX naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to NFLX: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get NFLX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (BULZ, AIQ, QYLD), which spreads the position across many companies. Or build it into a focused thematic portfolio, so NFLX sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where NFLX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Netflix is the global streaming leader turning scale into profit: rising memberships, price increases, a fast-growing ad tier targeting roughly $3 billion in 2026, and live sports and events. It trades at a premium multiple, so the thesis rests on continued margin expansion and revenue diversification rather than cheap valuation.

Whether NFLX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is NFLX a buy or a sell?, and where the stock could go from here in the NFLX stock forecast.

For income investors, whether NFLX pays a dividend and how the payout looks is covered in does NFLX pay a dividend? And to weigh NFLX against a peer, read the full side-by-side comparisons: NFLX vs AAPL and NFLX vs AVGO.