The shares rose more than 7 percent in premarket trading as at least 12 brokerages raised their price targets for the stock. Analysts at JP Morgan were most bullish, upping their target to $385.
The company's shares, which have gained 60 percent this year to become the top performer on S&P 500, were last up 7.5 percent at $330.75. The stock reached a record high of $333.98 last month.
The company added 1.96 million subscribers in the United States and 5.46 million subscribers in its international markets in the second quarter, beating analysts' average expectations.
Netflix's plans to invest around $8 billion on content this year.
In the United States, T-Mobile, Verizon FiOS, Altice USA's Cablevision, Cox Communications and Comcast Corp offers Netflix subscriptions. Netflix has similar deals with Proximus in Belgium and SFR Altice in France.
"While these offerings so far are most prevalent in mature markets, leading to a lower Netflix average selling price and also lower churn, partnerships could also become more important in emerging markets," Canaccord Genuity analyst Michael Graham said.
Out of the 46 analysts that cover Netflix's stock, 26 now rate it at "buy" or higher, 17 at "hold" and 3 at "sell" or lower. The median price target for the stock was $342.50.
(Reporting by Laharee Chatterjee and Jasmine I S in Bengaluru; editing by Patrick Graham)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)