Netflix (NFLX) shares traded in a $92–$98 range throughout March 2026, closing at $96.15 on March 31 amid range-bound sentiment driven by Q4 2025 results showing revenue growth of 17.6% to $12.1 billion and paid subscribers reaching 325 million, though full-year 2026 guidance implied deceleration to 13%. Trader consensus reflects optimism for ad-tier expansion—projected at $3 billion annually comprising 6% of revenue—offset by maturing subscriber adds and competitive pressures in streaming. Key focus now shifts to Q1 2026 earnings on April 15–21, where beats on operating margins, free cash flow, and average revenue per user could catalyze post-March repricing, with trailing P/E at 38x on $2.53 EPS.