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Netflix Stock Is Cheaper Than It Has Been in Years. Could This Be a Buying Opportunity?

Netflix shares are lower in Thursday afternoon trading as Wall Street weighs insider selling, ad growth pressure, buybacks, and valuation.

By Damilola Esebame, CFEI® , Edited by Laura Hohenstein

Updated Nov. 12, 2026

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Netflix (NASDAQ) shares were trading near 0.79, or -1.22%, from a previous close of $64.54. The stock opened at $64.29 and has moved between $62.87 and $64.31 as investors weigh executive stock sales and advertising growth concerns. For investors, understanding where you stand financially can help put stock volatility in perspective.

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Today's tape

NFLX is trading below its $64.29 opening price after touching an intraday low of $62.87. The current price is also below the day high of $64.31, leaving the stock weaker during the session.

The move keeps the previous close of $64.54 in focus because the stock has not regained that level during the session. Recent market commentary described a Nasdaq-led rebound across technology and growth-oriented shares earlier in the week.

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Insider sale

A Form 4 filing showed Co-CEO Gregory K. Peters sold 27,312 Netflix shares on Nov. 9 for about $1.74 million. A Form 4 is the SEC filing companies use to report insider stock transactions.

The filing showed Peters owned 119,412 shares after the transaction. The sale drew attention because it came as NFLX was trading near its recent lows and while Netflix was also repurchasing shares.

Ad forecast reduced

Netflix lowered its 2026 advertising revenue expectation to about $2.7 billion from about $3 billion. The company cited a slower-than-expected rollout of certain ad product capabilities.

The company maintained its full-year revenue forecast at $51.1 billion, which would represent annual growth of 13%. Advertising remains a key growth area as the streaming business matures.

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Buybacks in focus

The insider sale stands against a larger capital-return program at Netflix. In its latest earnings release, Netflix was reported to have bought back a record $4.8 billion of stock in the third quarter of 2026, purchasing 63.9 million shares after expanding the program.

Netflix also reported third-quarter revenue of $12.9 billion, up 12% from a year earlier. Buybacks reduce shares outstanding when a company repurchases its own stock.

The contrast between company repurchases and executive selling is one reason the filing drew attention.

Valuation reset

Recent commentary has focused on how far Netflix's valuation has compressed. One analysis said NFLX's earnings multiple fell from around 40 times forward earnings at its June 2025 peak to under 18 times recently.

An earnings multiple compares a stock price with expected profit. Lower multiples can draw attention from value-focused investors, but they can also reflect concerns about growth.

That decline helps explain why valuation has become a central part of the current debate around NFLX.

Analyst picture mixed

MarketBeat's compiled analyst data showed Netflix with an average rating of Moderate Buy and an average price target of $89.14. That target is an analyst average, not a company forecast.

The same summary said sentiment remained broadly positive while concerns about slowing growth and viewer engagement persisted. The summary listed 35 Buy ratings, 17 Hold ratings, two Sell ratings, and two Strong Buy ratings.

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Bottom line

Netflix is lower in Thursday afternoon trading, even after a broader technology rebound helped sentiment around beaten-down Nasdaq names earlier in the week. The market is balancing a lower ad-revenue forecast, insider selling, major buybacks, and a valuation that has reset sharply from prior peaks.

The next focus for those looking to start investing in Netflix is whether the company can show advertising progress and stronger engagement while maintaining its full-year revenue outlook.

This article is for informational purposes only and should not be considered investment advice.

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