New York, March 3, 2026, 07:16 EST — Premarket
- Netflix shares up about 0.9% in premarket trading
- JPMorgan upgraded the stock to “overweight” with a $120 target
- A Form 4 showed CFO Spencer Neumann sold shares under a 10b5-1 plan
Netflix shares rose 0.9% to $97.09 in premarket trading on Tuesday, after ending Monday at $96.24.
The move followed a fresh bullish call from JPMorgan, which upgraded Netflix to “overweight” and set a $120 price target. Analyst Doug Anmuth said the streamer looked “better insulated from AI risk,” adding in a note that “storytelling and talent will remain critical moats.” 1
It matters because Netflix has been trading less on quarter-to-quarter noise and more on bigger themes — what streaming looks like after consolidation talk, and whether generative AI reshapes media economics or just the tools behind it.
JPMorgan’s stance also comes as investors try to look past deal headlines after Netflix walked away from an attempted Warner Bros. Discovery transaction, a turn that has left the stock moving on “back to business” narratives again.
Separately, an SEC filing showed Chief Financial Officer Spencer Neumann sold 57,260 shares on Feb. 27 at $95 and $96, and exercised options in the same filing. The form said the transactions were made under a Rule 10b5-1 plan, which is a pre-set trading program executives use to sell on a schedule. 2
Insider sales do not always signal a view on the business, but they can still jar sentiment when a stock has just had a sharp run and is trying to hold new levels.
Traders will also be listening for any color on advertising and spending discipline — two areas that tend to move the stock fast when comments land outside the usual earnings window.
Netflix said its CFO will appear at Morgan Stanley’s Technology, Media & Telecom conference on Wednesday, March 4, in a session scheduled for 4:50 p.m. Eastern. 3
But there are risks. The rally can fade if Netflix’s ad push disappoints, if content costs creep higher, or if competitors force more aggressive pricing and bundling across streaming.
Next up, investors get Neumann’s conference remarks on March 4, then the market pivots toward Netflix’s next earnings report, which Yahoo Finance lists for April 16. 4
