Netflix Stock Extends Recent Climb Ahead of Earnings Release

Key Takeaways

Investors have been buying shares of Netflix, sending the streaming giant’s stock higher ahead of its scheduled earnings release this evening.

Netflix (

NFLX

) shares traded for about $970 Thursday morning, up more than 5% from where they closed Friday and more than 1% today. (Read

Investopedia’s

live coverage of
today’s trading here
.) Bullish research notes and a

Wall Street Journal

article discussing growth targets appear to have buoyed optimism in the streaming service.

Traders will watch today’s earnings closely;
options
prices suggest the update may send Netflix’s
stock up or down by up to 8.5%
.

Analysts have touted Netflix’s ability to withstand an economic downturn, with JPMorgan
describing it as the “most resilient” company
it tracks. Netflix has also
attracted attention
for its attempt to double its revenue and achieve a market capitalization of $1 trillion by 2030, which the

Journal

reported earlier this week.

Analysts expect Netflix to report $10.5 billion in first-quarter revenue, a 12% increase from a year earlier, according to consensus estimates from VisibleAlpha. They anticipate net income increasing 6% year-over-year to $2.47 billion, per VisibleAlpha.

Netflix shares have been on an upward trajectory for months, climbing 58% in the past year.

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