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Netflix shares drop 4% after Wells Fargo cuts rating to underweight with $57 target ahead of earnings.

Market News
18 Sep 2026
24/7 Wall Street
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Bearish
Netflix shares drop 4% after Wells Fargo cuts rating to underweight with $57 target ahead of earnings.

Netflix stock fell 4% following Wells Fargo's downgrade to underweight and a price target cut from $80 to $57, citing concerns over declining viewer engagement and a weaker content slate in the second half of 2026. This contrasts with Evercore ISI's bullish outlook, which raised its target to $110 based on strong household penetration and live sports growth. The divergent views highlight a debate over which audience metric—hours watched per subscriber or total households—better predicts Netflix's future performance. Investors should watch for upcoming earnings and engagement data to see which perspective prevails, noting Netflix has already declined 22% year-to-date amid these concerns.

Netflix trades at USD 71.84 on Pluang, down 4.61% as of Sep 18, 2026 20:21 WIB, reflecting active market reactions. The stock's market cap stands at $313.59B with a 52-week range between $67.60 and $124.13. Meanwhile, Disney's price is USD 105.15, barely changed at -0.17%, with a market cap of $181.91B and a 1.42% dividend yield, showing more stable investor interest.

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