Netflix stock (NASDAQ: NFLX) heads into the weekend of Saturday, November 22, 2025 trading just above $104 per share, as Wall Street continues to digest the company’s 10-for-1 stock split, an earnings stumble in October, and a flurry of fresh analysis published today and over the past week. [1]
Netflix share price today (22.11.2025)
U.S. markets are closed on Saturday, so the reference point for “today” is Friday’s close on November 21, 2025:
- Last close:$104.31
- Day move:-1.29% vs. Thursday’s close of $105.67
- Intraday range (Friday): low $103.81, high $106.53
- Volume: ~41 million shares, slightly above the recent average [2]
Real-time quote providers that update across the weekend still show NFLX around $104.3 on November 22, 2025, confirming that Friday’s close is the operative “today” price for investors. [3]
On a slightly longer view:
- 1-week change: roughly -8–9%, reflecting a steady drift lower after the split-adjusted price briefly traded above $111 earlier in the week. [4]
- 1-year change: still up around high-teens % year-on-year, despite the recent pullback. [5]
- Valuation: Netflix’s trailing P/E ratio is about 44x, as of November 22, 2025. [6]
In other words, Netflix enters this weekend firmly in correction mode after a huge 2025 rally, but still priced as a premium growth story.
The big backdrop: Netflix’s 10-for-1 stock split
The dominant story around Netflix shares in recent weeks has been the company’s 10-for-1 stock split:
- Netflix’s board approved the split at the end of October, after the stock had rallied above $1,000 per share for the first time in its history. [7]
- Shareholders of record on November 10, 2025 received nine additional shares for each share held, with trading on a split-adjusted basis beginning November 17, 2025. [8]
- The aim, as management and multiple outlets have noted, is to make the stock more accessible for employees and smaller investors, not to change the company’s underlying value. [9]
Before the split, one Netflix share traded around $1,100; post-split, investors now hold 10 shares at roughly one-tenth the price, leaving their total investment unchanged. [10]
However, the market reaction has been muted to slightly negative:
- On the actual split-day (Nov. 17), Netflix stock fell about 0.8%, as highlighted in a widely circulated analysis from The Motley Fool. [11]
- Since then, NFLX has slipped further, with Friday’s close at $104.31 representing a drop of roughly 5–7% from early post-split levels around $110–113. [12]
Analysts generally frame this as normal digestion rather than a red flag: stock splits often deliver their biggest pops at the moment of announcement, not when the split actually takes effect. [13]
Fresh news and commentary on November 22, 2025
Several new or very recent pieces of coverage are shaping how investors view Netflix this weekend:
1. “History says the Nasdaq will surge in 2026” – Netflix named a key stock-split winner
A new column published today argues that historical patterns point to strong Nasdaq performance in 2026, and singles out two stock-split names, including Netflix, as potential beneficiaries. [14]
Key points from the piece (paraphrased):
- Netflix has already delivered around mid-20s percentage gains in 2025, even after the recent pullback. [15]
- The split is framed as a cosmetic change riding on top of genuine fundamental strength, not a gimmick.
- The author suggests that if growth continues and broader tech sentiment improves, today’s dip could look like a buying opportunity in hindsight.
While this is an opinion article rather than hard news, it captures a bullish narrative many growth investors are toying with right now: a cheaper-looking share price + long-term streaming dominance + historical tailwinds for the Nasdaq.
2. Simply Wall St: “Recent developments are rewriting the story for Netflix”
Another fresh analysis, syndicated on Yahoo Finance and dated November 22, 2025, looks at how recent events have “rewritten” the Netflix story for investors. [16]
Although full details are behind rate limits, the headline and summary indicate a few clear themes:
- Netflix’s shift from pure subscriber growth to profitable, mature growth, with higher margins and robust free cash flow.
- The impact of the advertising-supported tier and password-sharing crackdown, which earlier earnings reports showed were helping boost revenue and paying subscribers. [17]
- How the stock split, recent earnings miss, and valuation debate are forcing investors to reassess what a reasonable multiple for Netflix looks like in 2025–26.
Simply Wall St often blends fundamental data with valuation models, so today’s piece is likely to resonate with investors trying to decide whether NFLX is now too expensive, fairly priced, or on sale.
3. MarketBeat: “Netflix trading down 1.3% – here’s what happened”
A MarketBeat update, covering Friday’s session and flagged in their November 22 content stream, noted that Netflix dropped 1.3% intraday, trading down to about $104.31 with volume modestly above average. [18]
The article highlights:
- Post-split volatility as traders adjust positions.
- Netflix’s large market cap and still-elevated valuation multiples, which can magnify swings when sentiment shifts.
- Ongoing debate over whether Netflix’s recent earnings “miss” in October justifies the current pullback. [19]
Together, today’s commentary paints a picture of a stock in short-term consolidation, but still central to many long-term growth theses.
Earnings overhang: October results still matter
Netflix’s October 22, 2025 earnings report remains a key driver of today’s price action:
- The company reported quarterly revenue of about $11.5 billion, in line with expectations, but earnings per share came in below consensus (about $0.59 vs. $0.70 expected). [20]
- Shares fell roughly 10% immediately after the report, a move widely covered by both Reuters and The Wall Street Journal, and they have struggled to fully recover since. [21]
Analysts and commentators generally agree on the narrative:
- Operationally, Netflix is still performing well: revenue is growing in the mid-teens percentage range, net income has surged vs. prior years, and free cash flow guidance for 2025 has been raised. [22]
- Financially, however, the bar had been set very high after a multiyear rally, so even a modest earnings shortfall invited a valuation reset.
This tension between strong business trends and lofty expectations is exactly what investors are wrestling with on November 22.
Valuation check: is Netflix expensive at $104?
There is no consensus — and today’s research makes that very clear.
Bullish side: “Moderate Buy” and upside to targets
- MarketBeat data still shows a “Moderate Buy” consensus rating on NFLX, with an average price target around $134 (split-adjusted), implying meaningful upside from current levels. [23]
- Several major brokerages, including Guggenheim, Piper Sandler, Wedbush and others, have reiterated Buy / Overweight / Outperform ratings since the October earnings and stock-split news, even as near-term volatility persists. [24]
- A 24/7 Wall St. article earlier this week argued that “Netflix still looks like a buy after its 10-for-1 stock split,” pointing to ~17% revenue growth to $11.5B and Netflix’s roughly 8.6% share of all television viewing as evidence the company’s competitive position remains very strong. [25]
From this angle, the current pullback is seen as a pause within a longer-term uptrend.
Bearish side: overvalued on some models
Other analysts are more cautious:
- A fair-value model based on Peter Lynch’s formula at ValueInvesting.io pegs Netflix’s intrinsic value around $55.62, versus a market price of about $104.31 as of November 22 — implying the stock is roughly 47% overvalued on that framework. [26]
- Macrotrends’ data shows a P/E ratio of about 44x today, considerably higher than the broader market and above many large-cap media peers, even after the earnings disappointment. [27]
These more skeptical takes argue that execution will need to be near-flawless on revenue growth, ad-tier adoption and content profitability to justify the current valuation.
Fundamental story: beyond the ticker
A few broader developments continue to shape the Netflix narrative as of late November 2025:
- Content and cultural dominance
- Netflix’s November slate includes prestige titles and the highly anticipated final season of “Stranger Things”, reinforcing its cultural footprint and subscriber-retention power. [28]
- New film and series launches this weekend are keeping the brand in the pop-culture conversation, which tends to support engagement — and, by extension, pricing power.
- Advertising and password-sharing crackdown
- The ad-supported tier launched in late 2022 has grown into a “meaningful revenue contributor,” according to recent commentary, giving Netflix a second major monetization lever beyond subscription fees. [29]
- The password-sharing crackdown, initially controversial, has been shown in multiple earnings cycles to support subscriber growth and revenue as “borrowers” convert into paying members. [30]
- Competitive and strategic moves
- Netflix is not just a bidder in the streaming wars; it even appears among potential suitors for Warner Bros. Discovery, as Axios reported this week, underscoring the industry’s tilt toward consolidation and scale. [31]
- At the same time, the company continues to expand into sports, games and live programming, which analysts see as potential long-term growth drivers, albeit with higher execution risk. [32]
Taken together, the business story is still evolving in a positive direction, even as the stock price takes a breather.
Key things for investors to watch after November 22
Looking beyond today’s headlines, here are the main signposts to watch:
- Price behavior around the $100 level
Psychologically, $100 is a big round number in the post-split world. A decisive break below it could signal a deeper correction, while a bounce could suggest the worst of the split-and-earnings hangover is priced in. [33] - Next earnings report – January 15, 2026
Netflix’s next scheduled earnings date is January 15, 2026. The market will be looking for: revenue re-acceleration, stronger margins, and fresh detail on ad-tier performance and engagement. [34] - Analyst revisions
Watch for changes to price targets and ratings as analysts update their models post-split and incorporate the October miss. Upgrades or big target cuts could both move the stock sharply. [35] - Macro and tech-sector sentiment
Some of today’s coverage explicitly links Netflix’s prospects to broader expectations that the Nasdaq could surge in 2026. If macro conditions or interest-rate expectations change, high-multiple names like NFLX are likely to feel it first. [36]
Bottom line on Netflix stock today
As of November 22, 2025, Netflix stock sits in an interesting middle ground:
- Price: about $104 per share, down this week but still well above its 52-week low and far below its June all-time high. [37]
- Narrative: a world-class streaming franchise with strong cash generation, but facing the reality of high expectations after a huge multi-year run. [38]
- Debate: bulls see the post-split slide as a potential buy-the-dip opportunity; bears argue that, at roughly 44x earnings and nearly double some fair-value estimates, the stock may still be priced for perfection. [39]
For now, Netflix remains one of the most closely watched growth stocks on the market. Whether today’s $104 level proves to be a launching pad or a way-station on a longer correction will likely depend on what the company delivers in its next earnings report — and whether the broader tech rally resumes in 2026.
Disclaimer: This article is for information and news purposes only and does not constitute financial advice, investment recommendation, or an offer to buy or sell any security. Always do your own research or consult a licensed financial advisor before making investment decisions.
References
1. www.investing.com, 2. www.investing.com, 3. www.tradingview.com, 4. www.investing.com, 5. www.tradingview.com, 6. www.macrotrends.net, 7. www.investing.com, 8. www.investing.com, 9. variety.com, 10. www.investing.com, 11. www.sharewise.com, 12. www.investing.com, 13. www.investing.com, 14. www.fool.com, 15. www.fool.com, 16. finance.yahoo.com, 17. english.aaj.tv, 18. www.marketbeat.com, 19. www.reuters.com, 20. www.tradingview.com, 21. www.reuters.com, 22. simplywall.st, 23. www.marketbeat.com, 24. www.quiverquant.com, 25. 247wallst.com, 26. valueinvesting.io, 27. www.macrotrends.net, 28. www.netflix.com, 29. finviz.com, 30. english.aaj.tv, 31. www.axios.com, 32. english.aaj.tv, 33. www.investing.com, 34. www.tradingview.com, 35. www.marketbeat.com, 36. www.fool.com, 37. www.investing.com, 38. simplywall.st, 39. www.macrotrends.net
