Netflix Stock Nears All-Time High: What's Going On?

Netflix Inc NFLX shares are rallying Tuesday, nearing all-time highs on continued momentum from strong earnings late last week. Here’s a look at what’s going on.

What To Know: Netflix stock has been on a tear this week as investors flock to the name as a safe haven amid tariff uncertainty. Netflix is largely insulated from global tariffs as the company sells streaming subscriptions as opposed to physical goods, and strong earnings from last week appears to have sparked investor confidence.

Netflix reported first-quarter revenue of $10.54 billion, beating analyst estimates of $10.52 billion. The company reported first-quarter adjusted earnings of $6.61 per share, beating estimates of $5.74 per share, according to Benzinga Pro.

Total revenue was up 13% year-over-year, driven by membership growth and higher pricing. The streaming giant said results came in above company expectations due to higher-than-forecasted subscription and advertising revenue.

Netflix guided for 15% revenue growth in the second quarter, highlighting continued strong trends in memberships and advertising revenue. The company also forecasted second-quarter earnings of $7.03 per share versus estimates of $6.27 per share.

"We remain optimistic about our 2025 slate with a lineup that includes returning favorites, series finales, new discoveries and unexpected surprises designed to thrill our members," the company said last week.

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Following the print, several analysts raised price targets on the streaming stock, ranging from $1,070 to $1,514 per share.

JPMorgan analysts flagged Netflix as a defensive play for investors, but also noted that the company is “playing offense.” The analyst firm believes Netflix will continue to be a key beneficiary of the ongoing disruption of linear TV.

Several analysts acknowledged Netflix’s limited exposure to tariffs, suggesting minimal impacts from macroeconomic uncertainty. Many firms also pointed to strong subscriber growth trends and the ability for the company to raise prices and drive stronger revenue growth through its ad-tier plan.

“Mgmt confirmed they are not seeing a slowdown or pullback in ad spend given recent macro uncertainty,” Macquarie analyst Ross Compton said.

Netflix shares reached all-time highs of $1,064.50 in February. The stock is up about 8% over the past few trading sessions and is now within striking distance of the February highs.

Netflix shares were up 4.8% at $1,035.26 at the time of publication Tuesday, according to Benzinga Pro.

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Photo: FP Creative Stock/Shutterstock.