Shares in Netflix Inc (NFLX.O) rose 9 percent to a record high in premarket trading on Tuesday after the video streaming service trounced Wall Street targets for new subscribers in the fourth quarter.
At least eight brokerages raised their price targets for the company’s shares by as much as $50. Analysts at RBC Capital Markets and KeyBanc were most bullish, setting targets of $300 compared to the $248 it traded at on Tuesday.
In a statement after markets closed on Monday, Netflix said it added 6.36 million subscribers in international markets in the fourth quarter, beating analysts’ expectations of 5.1 million, according to FactSet.
It now has 117.58 million streaming subscribers globally.