Here’s why shares of Netflix hit $100 this week

By September 7, 2016 September 20th, 2016 No Comments

Netflix Tax

If you own shares of Netflix, you noticed an uptick in your portfolio this week.

That’s because on Tuesday, Sept. 6, Piper Jaffray issued a bullish note about the company, according to The Street.

The note was simple: It valued Netflix at $122. Shares then went up by 25 percent.

Other analysts issued similar notes. They expect Netflix to improve its churn rates and grow its international market — a sector that could one day be bigger than its domestic business.

The question now is if Netflix stock can stay about the $100 threshold. Tuesday’s event marked the third time the stock has closed at triple digits, according to the Motley Fool.

The news is good for the streamer, which had a disappointing second quarter when it didn’t grow its number of subscribers as much as analysts had hoped to see.

Shares closed just under $100 at the bell on Wednesday.

Andrew Dodson

Author Andrew Dodson

Andrew Dodson is a journalist who has worked in Michigan and Colorado. Email him at Disclosure: Streaming Observer is supported by readers. Articles may contain referral links. For more information, see the disclosure at the bottom of the page.

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