Pershing Square discloses a 4.9% Netflix position, targeting $177.27 amid 128% implied upside from current levels.
Billionaire investor Bill Ackman has re-entered Netflix (NASDAQ:NFLX) with a stake representing 4.9% of Pershing Square USA’s portfolio, despite a $400 million loss on a previous position in 2022. Shares currently trade at $77.77, down 37.54% over the past year but up 12.79% in the last month.
Netflix reported Q2 2026 revenue of $12.56 billion, a 13.4% year-over-year increase, with EPS of $0.80 beating consensus. The stock trades at 29x earnings, below Spotify’s 48x, while delivering higher return on equity than Disney’s 12%. Analysts see material upside, with a 12-month price target of $177.27, implying 128% potential gains.
The move follows a 17.05% year-to-date decline for NFLX, which remains 26% below its 52-week high of $126.71. Ackman’s re-entry signals renewed confidence in a rebound for the streaming giant.