New York, June 8, 2026, 12:07 EDT
Netflix stock inched up 0.3% to $82.39 on Monday, with shares moving between $81.43 and $83.06, but didn’t come close to reversing its recent losses. The streaming company is facing a board change, sticking with its guidance, and now getting squeezed by Amazon and YouTube.
Netflix’s big problem isn’t stalled growth, but disappointment after the first quarter set high hopes. The company kept its full-year guidance and saw founder Reed Hastings officially step off the board. Shares have fallen for eight sessions in a row, the longest drop since November 2022, down 24% since the April 16 report, Barron’s said last week.
Netflix moved Jay Hoag into the chairman role right after the June 4 annual meeting, the company said in a filing. Hoag had served as lead independent director since 2012. He replaces Reed Hastings, the co-founder, who stepped down from the board to spend more time on philanthropy and other activities, according to Reuters.
Bulls still found some reason to stick around after Netflix reported that first-quarter revenue rose 16% to $12.25 billion. Operating income climbed 18% to $4.0 billion, and diluted EPS almost doubled to $1.23, boosted by a $2.8 billion Warner Bros.-related termination fee. The company left its 2026 revenue forecast unchanged at $50.7 billion to $51.7 billion, and reaffirmed its operating margin target of 31.5%.
Advertising is key here. Netflix said over 60% of first-quarter sign-ups in its ad markets came from the ad-supported plan. It has more than 4,000 ad clients now, up 70% from last year. The company is still looking for about $3 billion in ad revenue this year, which is double what it expects for 2025.
It’s not hard to make the bear case now. KeyBanc Capital Markets analyst Justin Patterson pointed to Amazon’s moves with Prime Video and YouTube’s grab for watch time as factors that are “raising more questions” on Netflix’s engagement and longer-term pricing, according to MarketWatch. Patterson flagged Amazon’s strengths: Prime Video comes with its shopping membership, offers more live sports, and runs on stronger ad-tech—software and data to sell and target ads. MarketWatch
YouTube is another pressure point. Users spent an average of 99.1 minutes a day on YouTube across 20 markets in 2025, topping Netflix’s 93.4 minutes, according to a Digital i analysis cited by the Guardian. “YouTube is TV,” Netflix co-CEO Ted Sarandos said. Digital i’s Matt Ross said more viewers are treating YouTube as their “primary entertainment destination.” The Guardian
Netflix is leaning on content, price options and more ways to watch. The company’s shareholder letter called out live events, video podcasts, games, AI features and a packed film and series slate later in the year for keeping users engaged. Patterson noted that worries about Amazon usually fade when Netflix sees a stronger release schedule.
Wall Street support hasn’t faded. Barron’s market data put the average analyst rating on Netflix at “Overweight”, with an average price target of $116.33. That’s above where the shares are trading now. Barron’s
Some retail bulls say Netflix is getting overlooked as AI names grab the spotlight. Motley Fool’s Anthony Di Pizio calls Netflix a streaming leader generating cash, with a growing ad business and cheaper valuation that might draw in long-term money. He also points out the stock is trading well under its record.
But the risks are clear. Netflix needs to show ads can bring in more revenue without cutting into subs. The company also has to show live sports and podcasts actually keep people watching and don’t just add more costs. Then there’s content amortization in the second quarter — spreading out production costs — which could pull on margins harder than expected. All this as Amazon and YouTube are still moving in on that same living-room screen time.
For now, Monday’s action seems like a stop, not a decision. The stock isn’t dropping anymore. But with Netflix, the focus isn’t on profit—investors are asking if its lead is still big enough.
