Netflix shares have formed an impressive start to 2019, rising in every trading session so far. Granted, that’s only a handful of sessions. But, given the volatility of FAANG shares and the wider stock market, Netflix appears to be on a winning streak. Netflix shares are up nearly 6% today and had risen to $315 from just $230 on Dec. 24, 2018.
The media giant’s shares are actually on an eight-day winning streak, including one day unchanged. NFLX has risen 35% across this trading period. However, it is still 25% below a record value of $418 in July 2018.
Analysts are bullish on NFLX stock, expecting the media company to perform better than its FAANG rivals. According to CNN, 23 out of 40 analysts give a “buy” sign for Netflix with only one analyst saying “sell.”
Bullish on Netflix Shares
There are a number of potential reasons for confidence in Netflix shares.
Netflix met market expectations for third-quarter revenue results, and year-on-year reported a $4 billion revenue growth figure. The company is reporting subscriber growth in the U.S. and internationally. And, it has a significant expansion opportunity in Europe according to Bloomberg Intelligence.
Netflix expects subscriber growth to add 9.4 million users globally in the last quarter of 2018. This compared to analyst’s expectations of 7.64 million.
The streaming platform also won five Golden Globes at Sunday’s awards for its original content. These were share across Netflix titles “The Kominsky Method” and “Roma.” In comparison, Amazon Prime Video picked up just two awards.
In an earnings call in October 2018,