Netflix Stock Slips Premarket as Analyst Warns Shares Could Fall Below $70 Ahead of Q2 Earnings

According to Jay Woods, chief global strategist at Freedom Capital Markets, Netflix shares could fall below $70 if earnings disappoint when the company reports Q2 results on Thursday (July 17). The stock slipped 0.2% in Tuesday premarket trading as Wall Street scrutinizes the streaming giant ahead of the earnings release.

Netflix stock has declined 41% over the past year amid concerns about slowing momentum, leadership changes, and strategic uncertainty. Woods warned that a break below $70 could expose shares to a deeper decline toward $57, while a recovery would require sustained momentum back toward the $80s. Analysts expect Netflix to report $12.58 billion in Q2 revenue and $0.79 earnings per share.