Netflix (NFLX) Stock Falls on Sept. 18 as Wells Fargo Turns Bearish, Says Engagement Trends ‘Look Worrying’

Netflix (NFLX) shares fell 4-5% after Wells Fargo downgraded the stock to Underweight, citing weakening engagement trends. Analyst Steven Cahall cut the price target to $57, implying 25% downside. Wells Fargo noted a decline in viewing hours and original content performance, raising concerns about Netflix's ability to produce hit shows. Disney's success with major hits contrasts with Netflix's challenges, despite the company's strong revenue and profits. Analysts remain divided, with an average

Netflix (NFLX) shares fell 4.8% to $71.72 after Wells Fargo downgraded the stock to 'underweight' and cut its price target to $57 from $80, citing engagement concerns and lower margin expansion expectations. The stock is near oversold territory with an RSI of 35 and down 23% year-to-date.

Netflix (NFLX) fell 4% after Wells Fargo downgraded it to Underweight with a $57 target, citing concerns over viewer engagement and weaker content. Disney (DIS) remained unchanged. Wells Fargo's analyst noted potential risks but acknowledged Netflix's content spending and history of hits. Evercore ISI raised its target to $110, highlighting strong household penetration. Netflix is down 22% YTD.

Netflix (NFLX) shares dropped 3.04% premarket after Wells Fargo downgraded it to Underweight, cutting its price target to $57 from $80. The bank cited declining viewership and weaker content for the second half of 2026, with analyst Steven Cahall estimating a 4% year-over-year viewership decline. Wells Fargo also reduced 2027 and 2028 EPS estimates and lowered operating margin forecasts.

Wells Fargo downgraded Netflix (NFLX) to Underweight, lowering its price target from $80 to $57. The bank cited concerns over engagement trends. Netflix shares fell 3.5% in premarket trading.

Wells Fargo downgraded Netflix (NFLX) to underweight, lowering its price target to $57 from $80, citing declining viewership and engagement trends. Shares have fallen 20% in 2026 and 38% over the past year. The bank sees a comeback unlikely without hit content, though consensus remains bullish.