What's Going On With Netflix Shares?

Netflix Inc NFLX shares are trading higher by some 3.43% to $354.26 Monday morning. Shares are potentially trading higher on upward momentum and overall market strength after the company last week reported better-than-expected fourth-quarter sales results and issued first-quarter sales guidance above estimates.

Netflix reported its fourth-quarter global streaming paid memberships were up 4% year-over-year. The stock has also seen a number of analyst rating revisions following fourth-quarter earnings. Argus Research analyst Joseph Bonner on Monday maintained Netflix with a Buy and raised the price target from $340 to $390.

What Happened?

Netflix last week led the streaming sector higher after the company said it ended the quarter with 230.75 million paid subscribers after adding 7.7 million during the quarter, which was well ahead of company expectations of 4.5 million.

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Paid subscribers are up from 223.9 million sequentially and up from 221.84 million on a year-over-year basis...Read More

According to data from Benzinga Pro, Netflix Inc has a 52-week high of $458.48 and a 52-week low of $162.71.