Netflix Inc. (Netflix (NFLX)) shares are under pressure again Monday, falling nearly 1% in premarket trading after closing 7.3% lower in the previous session. The decline comes as analysts trim their price forecasts following the company's latest earnings report, even as the broader market shows signs of strength with S&P 500 futures up 0.4%.

Analysts Tap the Brakes

Netflix reported second-quarter revenue growth of 13%, with viewing time up 2%. The company also remains on track to generate more than $15 billion in profit this year. That sounds pretty good, right? Well, investors are focusing on the signs of moderating growth. The stock sold off after the results, reflecting concerns that Netflix's rapid expansion is slowing after years of strong gains.

Rosenblatt analyst Barton Crockett maintained a Neutral rating but lowered his price forecast to $75 from $95. He said second-quarter revenue missed expectations, and management didn't have a "great explanation" for the slower revenue growth expected in the third quarter.

TD Cowen analyst John Blackledge reiterated a Buy rating but cut his price forecast to $100 from $112. Bank of America Securities analyst Jessica Reif Ehrlich also reiterated Buy while lowering her forecast to $105 from $125.

Despite the recent weakness, TD Cowen noted that first-half engagement remained stable and argued that Netflix still has a significant long-term opportunity because of its global streaming leadership. Rosenblatt also pointed out that the full impact of Netflix's March U.S. price increases may not show up in its UCAN segment until the third quarter of 2026. However, the firm questioned why the company's narrowed full-year guidance implies slower fourth-quarter revenue growth.

Expanding the Creator Playbook

Separately, Netflix is broadening its content strategy by partnering with leading YouTube creators. According to Bloomberg, the company has signed programming deals with YouTube creators including Alan Chikin Chow, Nick DiGiovanni, and Mythical Entertainment. Those agreements add to earlier partnerships with Ms. Rachel, Mark Rober, Salish & Jordan Matter, Danny Go!, Hot Ones, and The Stokes Twins.

The co-exclusive agreements allow creators to publish content on both YouTube and Netflix, giving Netflix access to popular programming without requiring creators to leave YouTube. Co-CEO Ted Sarandos described the shift as "evolutionary, not revolutionary," reflecting changing viewer habits.

What the Charts Say

Netflix remains in a long-term downtrend. The stock trades 7.3% below its 20-day simple moving average of $73.88, 15% below its 50-day SMA of $80.56, and 26.9% below its 200-day SMA of $93.74. The 20-day SMA remains below the 50-day SMA, signaling continued short-term weakness. And the death cross that formed in December 2025, when the 50-day SMA fell below the 200-day SMA, continues to reinforce the broader bearish trend.

ETF Exposure

Netflix is a major holding in several exchange-traded funds, including:

• First Trust Dow Jones Internet Index Fund (FDN): 6.37% weighting
• Fidelity MSCI Communication Services Index ETF (FCOM): 5.80% weighting
• Global X PureCap MSCI Communication Services ETF (GXPC): 5.22% weighting

Because Netflix represents a sizable portion of these funds, large ETF inflows or outflows can create additional buying or selling pressure on the stock.

Price Action

Netflix shares were trading down 0.90% at $68.33 during premarket trading on Monday.