Netflix Stock Rides Wall Street Bulls To Another High In Wake Of Earnings Triumph
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deadline.comAfter reporting better-than-expected subscriber growth and marking a key financial milestone, Netflix is seeing its shares hit a new high on a wave of euphoric reaction from Wall Street.Upgrades and increased price targets have rained down on Netflix after Tuesday evening’s earnings and the company’s declaration that it will turn cash-flow positive in 2022 and won’t need more debt financing.Shares in the streaming leader zoomed past $570 in the early going, up 14%, and at one point reached a new high of $577.77.
Trading volume was nearly four times normal levels.Eric Sheridan of UBS upgraded Netflix to “buy” from “neutral,” explaining that he sees it as a “long-term winner as more consumer habits shift globally toward a handful of streaming
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