Evercore ISI analyst Mark Mahaney likes Netflix Inc NFLX for a trade and an investment from current levels, he said Friday on CNBC's "Squawk Box."
Netflix has the most popular show in the world right now with "Squid Game," Mahaney told CNBC. The company also has four of its top shows being renewed in the fourth quarter, he added.
With such a quality content lineup ahead, Mahaney expects subscriber growth in the coming quarters to be strong for the streaming video company.
See Also: Why This Netflix Analyst Thinks Recovery Is Off To A Faster Start Than Expected
The stock has already priced in some of the expected subscriber growth with its recent move, and the price is likely to continue rising, the Evercore analyst told CNBC.
"I think there's more upside so here's the math behind it: I think this company is on track to do something like $30 in earnings by 2025—that's a $900 stock price."
If there is disappointment in terms of the fourth-quarter guidance, Mahaney expects the market to come in and buy the stock "because you want to be long Netflix for Q4 and for 2022."
Netflix is set to announce its third-quarter financial results after the market closes on Oct. 19.
NFLX Price Action: Netflix has traded as high as $646.84 and as low as $463.41 over a 52-week period.
The stock closed Friday down 0.87% at $628.29.
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