From 24/7 Wall St. · Omor Ibne Ehsan · · 1m 20s
Wells Fargo Analyst Downgrades Netflix After Personal Habit Shift
Wells Fargo analyst Steven Cahill downgraded Netflix after noticing his own viewing habits dropped, sparking a rare conflict with other analysts.
In brief
Wells Fargo analyst Steven Cahill downgraded Netflix after noticing his own viewing habits dropped, sparking a rare conflict with other analysts. Wells Fargo analyst Steven Cahill downgraded Netflix after observing his own viewing habits declined, creating a rare conflict with other analysts. Originally reported by…
Wells Fargo analyst noticed Netflix habit shift
Wells Fargo senior equity analyst Steven Cahill noticed his own Netflix viewing habits declined after years as a subscriber.
Cahill downgrades Netflix stock
Cahill formally downgraded Netflix to underperform after observing his personal viewing habits slipped.
Netflix stock performance
Netflix shares have dropped 40.21% over the past year and 21.76% year to date through september 21, 2026.
Management response to downgrade
Netflix co-CEO Greg Peters stated there is no linear relationship between view hours and revenue because all hours are not created equal.
Netflix's content strategy
Management highlighted live events generating six of the top ten new-member sign-up days over the past five years with minimal view hours.
Stock price and analyst targets
Netflix trades at $73.36, near its 52-week low of $65.08, with a forward multiple of 19x and consensus targets at $93.37.
What happens next
Watch H2 2026 and Q1 2027 engagement disclosures to see if Netflix's viewing hours growth softens and ad revenue stalls.
The headline
Wells Fargo analyst Steven Cahill downgraded Netflix after observing his own viewing habits declined, creating a rare conflict with other analysts.
