Netflix Trades Near $75 as Oppenheimer Cuts Target to $100 Before Earnings

Netflix shares trade around $75 after Oppenheimer lowered its price target from $120 to $100 on Monday, the latest in a series of cuts reflecting near-term pressures. The stock has fallen 40% over the past year amid slowing growth, ad-tier challenges, and cheaper subscriber plans. Options traders are positioning defensively with a September bear-call spread ahead of second-quarter results due Thursday, where consensus calls for 79 cents EPS and $12.58 billion revenue. Earlier strength showed first-quarter revenue up 16.2% to $12.25 billion and operating income rising 18%, yet margin guidance slipped to 32.6% from 34.1% a year earlier. The market now focuses on whether advertising progress and pricing actions can offset temporary viewing softness from the World Cup.