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Ives also said that nine in 10 Netflix users are ready to spend more on the service, thanks to some popular shows including 13 Reasons Why, Luke Cage and Jessica Jones. Continuing with its “highly attractive” rating, the firm added that Netflix’s global expansion plans hold a lot of promise.
Netflix is currently in a prime position to tap into the international streaming market, which would have an estimated size of 700 million subscribers in the next two years.
The streaming giant is currently the second-best performer in the S&P 500 index – the stock has almost doubled in value so far this year. Piper Jaffrey had earlier raised Netflix’s price target from $367 to $420 on high hopes of subscriber growth.
Netflix shares were trading up 1% at $394.45 at 10:30 AM ET on Tuesday.