Netflix Market Value Surges $30 Billion After Earnings-Here’s How High Analysts Think Shares Will Go

Netflix Market Value Surges $30 Billion After Earnings-Here’s How High Analysts Think Shares Will Go

Topline

Shares of Netflix are nabbing new highs despite earnings that slightly missed analyst expectations; here's what Wall Street's saying about the entertainment monolith's booming prospects.

Reed Hastings, Netflix President and founder, in Mexico City on Friday, Sept. 6, 2019.



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Key Facts





As the broader market ticks up about 1%, Netflix stock is skyrocketing a staggering 16%, pushing the streaming giant's market capitalization up more than $30 billion to an all-time high of roughly $255 billion.





The stock surge began nearly immediately after the firm posted fourth-quarter earnings of $542 million, falling about 14% shy of average analyst expectations but also nabbing better-than-expected sales of $7.1 billion and surpassing 200 million subscribers for the first time. 







"We remain bulls on the Netflix story," said Pivotal Research Group analyst Jeffrey Wlodarczak who raised his Netflix price target by $90 to a Wall Street high of $750–giving shares nearly 30% more upside to current levels. 







In a note to clients, Wlodarczak noted