Netflix (NFLX) stock has fallen 3.1% over the past week, but it is still up 25.6% in the last month and 3.8% over the past year. Wall Street’s analysts are strongly bullish, forecasting upside over the next twelve months with an average price target of $114.51 versus the last close of $95.31.
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Doug Anmuth of J.P. Morgan reiterated his Buy rating on NFLX on March 13, 2026, with a price target of $120, placing the stock among his top five best ideas. This target implies meaningful upside from current levels and reflects his conviction that Netflix remains a healthy organic growth story powered by strong content and global subscriber momentum.
Anmuth argues that Netflix’s mix of strong original programming, a growing ad-supported tier, and continued pricing power supports double-digit revenue and profit growth. He sees Netflix as different from mega-cap techs burdened by heavy AI capex or commerce players facing AI disruption, instead viewing AI as a tool to improve content discovery, ad targeting, and cost efficiency.
The analyst highlights that Netflix has surpassed 325 million subscribers and is on a path toward one billion viewers over time, supported by a rationalizing streaming industry and rising global demand for on-demand video. He expects 2025–2028 compound annual growth rates of about 12% for revenue, 21% for operating income, 24% for GAAP EPS, and 22% for free cash flow, justifying a premium valuation.
Anmuth, who ranks 353 out of 12,063 analysts on TipRanks with a 57.26% success rate and 15.3% average return per rating, bases his $120 December 2026 target on 30 times 2027 GAAP EPS of $4.01, above the average tech peer multiple. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.