Overview
- Shareholders of record as of Nov. 10 will receive nine additional shares on Nov. 14, with split-adjusted trading set for Nov. 17.
- The split does not change Netflix’s fundamentals but lowers the per-share price, potentially broadening retail participation.
- Netflix shares rallied on the split news yet have not fully recovered from the post-earnings sell-off.
- The sell-off followed Q3 results that included a roughly $619 million Brazilian tax expense that reduced earnings.
- Wall Street remains broadly positive, with a reported average price target near $1,347 implying about 22% upside, even as the stock trades at a high forward P/E around 37 versus roughly 22 for sector peers.