Netflix (NFLX) shares climbed 1.7% to an all-time high of $1,155.97 in midday trading Friday, marking the stock’s 11th straight session of gains — its longest consecutive winning streak since going public in 2002.
The rally pushed Netflix’s stock more than 5% above the Wall Street analysts’ average price target of $1,096, according to Koyfin.
The stock has gained nearly 30% year-to-date and has more than doubled over the past 12 months, making it one of the top-performing names during the first 100 days of President Donald Trump’s second term.
The highest price target on record remains $1,514, set in April by Rosenblatt Securities analyst Barton Crockett.
Netflix’s run follows its first-quarter (Q1) earnings report, in which the company said revenue rose 13% and reiterated full-year guidance of $43.5 billion to $44.5 billion. According to TheFly, JPMorgan added Netflix to its ‘Analyst Focus List’ on Thursday, citing further upside potential.
Meanwhile, traditional media stocks have struggled under pressure from shifting trade policy. In April, China moved to limit imports of U.S. films following Trump’s announcement of ‘Liberation Day’ tariffs, dealing a blow to major Hollywood studios.
Warner Bros. Discovery (WBD) has fallen nearly 10% since January, while Disney (DIS) is down 13% in the same period.
Netflix executives remain confident despite broader trade tensions and concerns about consumer resilience. “There’s been no material change to our overall business outlook,” the company said last month.
Co-CEO Greg Peters echoed that sentiment on the earnings call, saying, “We haven’t seen any major impacts during those tougher times.” He added that entertainment remains “pretty resilient in tougher economic times,” and Netflix has historically weathered such periods relatively well.
According to analysts, a major driver of Netflix’s success is its ability to keep audiences engaged with high-quality content. According to company data, the average subscriber spends two hours daily on the platform.
UBS noted that engagement with leading titles is also picking up, and the return of hits like Stranger Things, Wednesday, and Squid Game is likely to support growth into 2025.
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