Leading global streaming service Netflix (NASDAQ: NFLX) is having a rough patch in 2026, as stock prices have plunged nearly 25% year-to-date. It entered January trading at $90 and touched a yearly high of $107 in April but fell to $68 in July. It is among the least-performing equities in the market, and traders have only made losses.

On the heels of the ongoing downturn, independent investment firm Robert W. Baird has cut down on its Netflix stock price target. Though they maintained their buy rating, the target has seen a steep cut. The development indicates that Wall Street is not too positive on NFLX’s prospects.

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Latest Netflix Stock Price Target (NFLX)

Robert W. Baird’s stock analyst Vikram Kesavabhotla cut down on Netflix’s stock price target from $120 to $90. That’s a straight cut of $30, indicating bearishness in NFLX. However, the analyst expects it to rise by 31% to reach the target of $90. Therefore, an investment of $1,000 could turn into $1,300+ if the price prediction turns out to be accurate.

Netflix stock is under pressure as operating margins have landed at 33.4%, down from 34.1% a year ago. Development and marketing costs are eating up a share of its revenues, aided by a termination fee. Competition is fierce in the streaming sector, with Amazon and Disney, among others, gaining major subscriptions. Streaming firms are outperforming each other while users are spoilt for choice.

The development is making Netflix stock non-performative and is testing the patience of investors. If the asset fails to gain steam, investments could dry up, leading to a loss in attracting buying sentiment. Competitors could plough through, forcing the company to realign its business model. A constant change in reassuring revenues also takes a toll on the management, keeping their foot forward to remain relevant in the market.