Analysts are getting even more bullish on Netflix following its earnings beat for the third quarter . Shares jumped more than 6% in premarket trading Friday on the heels of the streamer's results. Earnings came in at $5.40 per share and revenue at $9.83 billion. That's well above Wall Street's estimates for the period, as analysts were expecting $5.12 per share on revenue of $9.77 billion, according to LSEG.
"It is abundantly clear that NFLX is demonstrating massive scale as it continues to produce strong subscriber results and free cash flow with the ability to invest to accelerate that growth while its streaming peers continue to generate substantial losses, are resorting to aggressive price hikes amidst generally mediocre subscriber results." Bernstein reiterates its market perform rating The firm increased its price target to $780 from $625.
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