StocksMediumUpdated•Originally published 1 October 2026•Updated 1 October 2026•
1 min read
Netflix Shares Fall as Co-CEO Admits Slower Growth Momentum
Key Facts
1Wells Fargo maintained an Underweight rating on Netflix with a $57 price target.
2Co-CEO Ted Sarandos stated that the company is not growing as fast as he wants it to.
3Netflix stock fell 2% following comments that raised concerns regarding Q3 earnings.
Netflix stock fell 2% following statements from Co-CEO Ted Sarandos at the Bloomberg Screentime event, where he revealed that viewership grew by only 2% during the first half of 2026. TipRanks reported that these comments raised investor concerns regarding the upcoming Q3 earnings results. Consequently, Wells Fargo maintained its Underweight rating on the stock with a price target of $57.
NFLX closed at $69.58 on September 30, 2026, remaining above the analyst's projected target level. In the banking sector providing the coverage, WFC closed at $80.11 on September 30, 2026, while JPM was trading at $331.61 on October 1, 2026.