Netflix (NFLX) Stock: Wedbush Increases Price Target to $118 Ahead of Earnings

TLDR

• Netflix is scheduled to report its Q1 2026 earnings on April 16
• Wedbush increased its price target for NFLX to $118 from $115, while keeping a Buy rating
• Evercore ISI reaffirmed an Outperform rating and a $115 price target
• Wall Street anticipates Q1 EPS of $0.79 and revenue of $12.18 billion, a 15.5% year-over-year increase
• Among 39 analysts covering the stock, 30 give it a Buy rating, and the average price target is $115.84

(SeaPRwire) –   As Netflix approaches its Q1 2026 earnings release on April 16, it is supported by a new wave of analyst upgrades and higher price targets.

Netflix, Inc., NFLX

Wedbush analyst Alicia Reese increased her price target for NFLX to $118 from $115, maintaining a Buy rating. She cited robust global advertising growth potential and the positive impact of recent price increases as primary reasons for the adjustment. This new target suggests approximately 15% potential gain from the current stock price.

Evercore ISI also provided commentary, restating its Outperform rating and $115 price target ahead of the earnings report. The firm characterized Street projections for Q1 revenue of $12.2 billion—a 15.5% year-over-year rise—as sensible, considering Netflix’s upcoming content and the advantages from the 2025 price adjustments.

Netflix’s stock is currently priced at $103.42, resulting in a market capitalization of $436.87 billion.

What the Street Is Expecting

Analysts on Wall Street are predicting Q1 earnings per share of $0.79, which would mark over 15% growth compared to the previous year. Revenue is projected to reach $12.18 billion.

Operating income is estimated at $3.94 billion, reflecting a 32.4% margin.

For the second quarter, the consensus revenue forecast is $12.6 billion, representing 13.6% year-over-year growth. Evercore ISI suggests Netflix will probably maintain or modestly elevate its full-year 2026 guidance, which presently forecasts revenue in the range of $50.7 billion to $51.7 billion, a 31.5% operating margin, and $11 billion in free cash flow.

Netflix concluded 2025 with Q4 revenue of $12.05 billion, an 18% year-over-year increase that slightly exceeded estimates. The company also surpassed 325 million paid subscribers by the end of the year—a goal it had been progressing toward for multiple quarters.

Investors will be monitoring whether subscriber growth persisted in Q1 following the recent price hikes, as well as the contribution of the advertising-supported plan to overall revenue.

Analyst Views Across the Street

In addition to Wedbush and Evercore ISI, several other firms have revised their stances prior to the earnings announcement.

TD Cowen reiterated a Buy rating with a $112 target, forecasting 4.56 million net new subscriber additions. Deutsche Bank lifted its target to $100 but maintained a Hold rating. Morgan Stanley raised its target to $115 with an Overweight rating, highlighting sustainable double-digit revenue growth. Barclays continued with an Equalweight rating and a $115 target.

Out of the 39 analysts covering NFLX, 30 assign it a Buy rating and nine a Hold. The average price target is $115.84, indicating about 13% upside from present levels.

Wedbush also noted potential challenges—price sensitivity in Europe and continuing legal issues might pressure short-term market sentiment, even as the overall advertising narrative remains positive.

Netflix reported $45.18 billion in revenue over the past twelve months, with earnings per share of $2.53. The stock is trading at a price-to-earnings ratio of 40.84.