Wall Street analysts have set a new price target for Netflix (NASDAQ: NFLX) shares for the next 12 months. According to HSBC, analyst Mohammed Khalouf downgraded the company's stock rating from “Buy” to “Hold” and reduced the price target by 20.83% – from $96 to $76, which is only 5.32% above the last closing mark of $72.16. According to Khalouf, Netflix is losing market share to Google's (NASDAQ: GOOGL) video platform YouTube, and a recovery for the company is unlikely in the near future. The analyst noted that YouTube is increasing its presence in users' homes, and its growth is at the expense of Netflix.
Overall, NFLX shares are still considered a “Moderate Buy” according to institutional experts' forecasts, and a 30.74% increase to $94.34 is expected over the next 12 months. Data obtained by Finbold from TipRanks on September 23 indicates that Khalouf was more pessimistic than most of his colleagues who published their estimates in September.
Stephen Cahall from Wells Fargo issued an even lower forecast, reducing the price target from $80 to $57 and assigning Netflix shares a “Sell” recommendation. At the same time, Brian Pitz from BMO Capital set a price target of $135 with a “Buy” recommendation on the same day Khalouf published his downgrade. The performance of Netflix shares in 2026 confirms the more pessimistic forecasts. Although NFLX demonstrated strong growth of 41% from late February to mid-April, the company subsequently completely erased those gains. As of September 22, Netflix shares were down 20.69% year-to-date, trading at $72.16.
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