Wall Street Cuts Netflix Targets on Soft Outlook, While Deutsche Bank Urges Buying Dip

Netflix shares fell 7% to $64.07 after the company projected fourth-quarter revenue of $13.44 billion, missing Wall Street forecasts, and trimmed its full-year advertising revenue growth guidance to 80% from 100%. The weaker outlook prompted widespread price target reductions, including Bernstein SocGen to $80, Oppenheimer to $80, Pivotal Research to $65, and Piper Sandler to $78, alongside a downgrade from Needham to Hold. However, Deutsche Bank reiterated a Buy rating with a $93 price target, arguing the sell-off is overly punitive and citing intact fundamentals, including a reaffirmed 31.5% operating margin.