NFLX NETFLIX INC

Price Chart

Executive Summary

Goldman Sachs double-upgraded Netflix Inc. (NFLX) from Neutral to Buy on April 6, 2026, raising its price target to $120 from $100, implying 47% upside from the current $81.56. The firm's 54% accuracy on 2,921 calls and 5.6% average return lend moderate credibility to this contrarian move. Consensus is heavily bullish: 45 of 58 analysts rate Buy or Strong Buy, 13 Hold, zero Sell. The mean target of $114.56 offers 40% upside, with a high of $151.40 and low of $80. Goldman's $120 target sits above the median of $115. Recent actions from BofA, Guggenheim, and Keybanc reaffirm Buy/Overweight ratings with targets of $125, $120, and $115 respectively. EPS revisions are mixed: 38 up vs 0 down for the current year, but 23 down vs 4 up for the current quarter. Insider selling is heavy — co-founder Reed Hastings sold $28.6M on June 1, and other C-suite members sold $4.9M combined in early May. Institutional buying is massive: Vanguard, FMR, Morgan Stanley, BofA, and Wells Fargo all more than doubled positions (831%-1,086% increases). Short interest is elevated at 58.4% of float. The next earnings report is due July 15, 2026. Bottom line: a high-conviction double upgrade from a top-tier firm with strong institutional backing, but heavy insider selling and near-term EPS estimate cuts warrant caution.

Impact Score

Consensus & Targets

Of 58 analysts covering NFLX, 16 rate Strong Buy, 29 Buy, 13 Hold, 0 Sell, 0 Strong Sell — 78% Buy-equivalent. Consensus is heavily bullish, making Goldman's upgrade consensus-aligned in direction but above consensus in magnitude (double upgrade).

Current price: $81.56. Mean target: $114.56 (40% upside). Median: $115. High: $151.40 (86% upside). Low: $80 (2% downside). Goldman's $120 target is 5% above the mean and 4% above the median, placing it in the upper quartile of targets.

Recent Analyst Activity

Zero upgrades or downgrades in the past 30 days — a quiet period. EPS revisions: current year (0y) has 38 up, 0 down; next year (+1y) has 20 up, 17 down; current quarter (0q) has 4 up, 23 down — a clear near-term negative trend. Next quarter (+1q) has 21 up, 7 down, suggesting a rebound expected.

Firm Track Record — Goldman Sachs

Goldman Sachs accuracy: 54% on 2921 calls | avg return: 5.6%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.

Goldman Sachs has 54% accuracy on 2,921 calls with a 5.6% average return — solid but not elite. Top-tier firms on NFLX include Deutsche Bank (100% on 2 calls, +14.7% avg return), Macquarie (100% on 8, +13.2%), Evercore ISI (100% on 8, +15.2%), and Keybanc (89% on 9, +13.9%). Goldman's accuracy is below these leaders but its large sample size adds statistical weight.

Earnings Estimates

Next earnings: Jul 15, 2026

Cross-Platform Signals

Insider selling is heavy and concentrated: co-founder Reed Hastings sold $28.6M on June 1; other C-suite (Neumann, Peters, Hyman, Sarandos) sold $4.9M combined in early May. This is a bearish contra-signal to the bullish analyst call. Institutional buying is massive — Vanguard, FMR, Morgan Stanley, BofA, and Wells Fargo all more than doubled positions (831%-1,086% increases). Congressional buying: Rep. Byron Donalds bought $2K-$30K in March. Short interest is elevated at 58.4% of float, indicating heavy bearish positioning that could fuel a squeeze. The divergence between insider selling and institutional buying is notable — insiders are taking profits while institutions are piling in.

Documents Analyzed

Report based on filing metadata.

US Market Status