NFLX Price Prediction: $57 Bear Case vs. $105 Bull — The Engagement Trap Is Real and This Bounce Won't Save You
Zach Anderson Sep 22, 2026 12:39 Netflix is trading at $74.08, technically broken below every meaningful moving average, as Wells Fargos bombshell $57 Underweight call collides with a still-bullish Wall Street majority holding $8… Wells Fargo Just Nuked the Content Thesis — And the 3% Bounce Is a Trap NFLX printed a 3.08% bounce off an intraday low of $71.62, clawing back to $74.08. Dont let the green candle fool you. Netflix is down over 20% year-to-date, on pace for its worst annual performance since 2022, and the bounce looks far more like exhausted short-sellers taking profit than any genuine institutional re-accumulation. The macro story here is unambiguous. Wells Fargo analyst Steven Cahall dropped a career-defining Underweight call on September 18, slashing his target from $80 to $57 — a level that implies another 23% of pain from current prices. His thesis is surgical and hard to dismiss: members watched an average of 1.6 hours per day in the first half of 2026, down an estimated 8% from 2023 on an adjusted basis, while U.S. TV share slipped below 8% and hours from the platform‘s top 100 original titles fell materially. The phrase that should terrify Netflix bulls is Cahall’s own: “NFLX has lacked big









