Goldman Sachs lifted its price target on Netflix (NASDAQ:NFLX) to $1,140 from $1,000 while maintaining a Neutral rating, citing a strong second-half 2025 content lineup and expectations for stable user engagement and monetization trends.
Ahead of Netflix’s Q2 2025 earnings, Goldman previewed industry data and highlighted several key debates likely to shape investor sentiment: the timing and impact of price increases in mature markets and the implications for average revenue per member (ARM); Netflix’s competitive positioning versus other streamers like YouTube and Peacock, as well as social media platforms like TikTok and Meta; the effect of an anticipated strong content slate in H2 2025 on subscriber engagement and retention; and Netflix’s growing investments in live entertainment as it seeks to diversify and expand its content offerings.
Goldman expects consumption and retention to remain resilient thanks to the robust slate, but noted ongoing uncertainty around competitive pressures and pricing dynamics. The updated target reflects improved forecasts but also acknowledges that upside may be balanced by potential challenges in sustaining growth and defending market share.
