Netflix shares topped $ 200 for the first time today, as the video-streaming giant prepares to announce its Q3 earnings results next week.
The magic $ 200 mark was popped as Goldman Sachs predicted that the company will post subscriber gains above expectations over both Q3 and Q4. Netflix stock breached $ 200 only briefly as the markets opened this morning, then dropped slightly below the tide-mark again.
Above: Netflix shares
This milestone moment comes shortly after the company announced a price-hike in the U.S. and several other markets around the world. Indeed, Netflix announced price rises for two of its three subscription tiers on October 5, with the mid-level $ 9.99 plan being bumped up to $ 10.99 per month, and the top-tier incarnation rising to $ 13.99 per month from $ 11.99. Wall Street clearly liked this news, and in the days that followed Netflix stock saw a notable spike.
Many predicted that Netflix would soon hit the $ 200 mark. For context, Netflix shares were at around $ 184 on October 4, but by the time the markets closed on October 5 the shares were up to more than $ 194 before hitting a peak of $ 198 on Friday, October 6.
Netflix announced its initial public offering (IPO) way back in 2002 when the Los Gatos-based company offered a DVD subscription service. The company set its IPO price at $ 15 per share, and after a slow start its shares have been on a general upward trajectory for the past few years.
Above: Netflix share history
