Netflix is trading 5.15% down now at $71.43 after Wells Fargo downgraded the shares to Underweight from Equal Weight and cut its price target to $57 from $80.
- Wells Fargo cited weakening viewer engagement, a weaker content slate, rising content costs, and uncertainty around monetizing live sports.
- Netflix is declining despite broadly firm market conditions, making the analyst action the primary catalyst for September 18, 2026.
- Shares extended recent weakness after closing at $75.31 on September 17, down 1.44%.