NEW YORK, June 20, 2026, 11:04 EDT
- Netflix closed the week at $77.38, slipping roughly 3.7% from last Friday even though shares posted a modest uptick on Thursday.
- U.S. equity markets stayed closed Friday for Juneteenth and will not trade over the weekend. The next scheduled session is Monday.
- The next date on the calendar for investors is Netflix’s Q2 earnings, due July 16. Margins, pricing, and ads look set to be the main topics.
Netflix Inc. shares come into Monday under pressure. The stock struggled last week while investors looked at deal talk, a shrinking takeover premium, and the next earnings report.
The stock wrapped up trading on Thursday as U.S. exchanges closed Friday for Juneteenth and stayed shut through the weekend. So, heading into the new week, the stock opens from a last-set price that’s a bit old but not irrelevant: shares closed lower on the week. The wider market ended with tech shares up.
Netflix shares ended Thursday at $77.38, up 0.55%. The stock had dropped 3.61% Tuesday and 2.24% Wednesday. For the shortened week, Netflix fell roughly 3.7% compared to the June 12 close of $80.34. Trading volume was 91.92 million shares on Thursday.
Netflix trailed the market Thursday. The S&P 500 climbed 1.08%, while the Nasdaq jumped 1.91%. The Dow was up 0.14%, lifted by chip names and less geopolitics tension following a U.S.-Iran deal. Netflix’s drop seemed tied to its own news, not the indexes.
Netflix has its next key date set for July 16, when it’s planning to release second-quarter numbers and its outlook just after 1 p.m. Pacific. Management will hold a live video earnings interview after the results post.
Netflix told investors in April to expect 2026 revenue between $50.7 billion and $51.7 billion and an operating margin of 31.5%. The company put out a Q2 revenue target of $12.57 billion and 13.5% growth. For the quarter, it predicted an operating margin of 32.6%, down from 34.1% the year before.
Advertising is still developing as part of the long-term bull case. Netflix said over 60% of first-quarter sign-ups in markets with ads picked the ad-supported plan. The company now works with more than 4,000 advertisers. It still aims for about $3 billion in ad sales in 2026, about double what it expects in 2025.
Split views on Wall Street showed up in analyst notes. Goldman Sachs’ Eric Sheridan called Netflix’s latest results “supportive of the long-term thesis,” flagging revenue growth, higher margins, and room for capital returns. But he said the near-term story is still about engagement, user growth and pricing. TheStreet
Deal chatter came up too. TheStreet said Netflix denied looking at Lionsgate Studios after shares in Lionsgate rose on the rumor. Netflix is sticking to its usual approach—management might check out assets but signals it won’t overpay for a deal.
Fox’s $22 billion deal to acquire Roku throws it into a tougher digital ad fight, giving Fox access to over 100 million Roku households. Reuters said the merged group would come in behind YouTube and Disney but ahead of Netflix in U.S. TV viewing, citing Nielsen. J.P. Morgan’s Cory Carpenter said the move would “fundamentally pivot” Fox into digital. Doug Creutz at TD Cowen raised doubts about whether the deal creates value. Reuters
The risk is pretty clear. If higher prices slow down viewing, ad growth stalls, or content amortization ends up weighing heavier than bulls expect, July numbers could dent the margin argument. Netflix has named competition, member retention, engagement, macro pressures and timing of content drops as possible risks to its results.
Monday’s session is more a mood test than a final call. Bulls are hoping last week’s dip was just nerves over deal headlines before earnings. Bears say the stock must still show it can juggle pricing, ads, and content spend together.
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