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Netflix jumps another 15% as Wall Street applauds 'upside surprises' in earnings

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Netflix stock jumped another 15% on Thursday after the streamer beat earnings expectations in the third quarter. Analysts are bullish on its future.

The company also revealed it will be raising prices in the US, UK, and France — a positive development to some analysts on Wall Street.

Nathanson, who maintained his Neutral rating and price target of $390 a share, raised his fourth quarter and full-year 2024 revenue projections by 2.6% and 3.5%, respectively, citing the price hikes. Wells Fargo analyst Steve Cahall said he sees upside to the current valuation — but only if the company can execute.

That clearer outlook also prompted bullish sentiment from Keybanc analyst Justin Patterson, who upgraded the stock to Overweight from Sector Weight with a $510 price target.appears to be working, given the surge in subscribers and positive commentary from management, while operating profit and free cash flow are "steadily ramping."

 

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