Analyst warns Netflix stock could wait years for strategy to pay off

Netflix (NASDAQ: NFLX ) delivered blockbuster third-quarter 2026 results, beating Wall Street estimates for both earnings and revenue. However, Netflix stock is sinking as Bernstein cautions that any changes in the company’s business model could take years to pay off. Specifically, the firm said the streaming platform’s new content leadership brings deep experience across television, film, and streaming, but management’s messaging still focuses on traditional content, live events, and licensing. While these areas could help Netflix’s trajectory, Bernstein warned that any important changes may take years to show up in financial performance. Accordingly, it cut its Netflix stock price target from $95 to $80 but kept an “Outperform” rating, pointing to limited near-term tailwinds and uncertainty about the company’s 2027 outlook.

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