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

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

Andrew Dodson is a journalist from Michigan who writes for MLive.com, the state's top online news source. Email him at andrewdodson@streamingobserver.com.
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