Netflix Inc (NASDAQ:NFLX) shares are trading higher Monday after the company reported strong first-quarter results late last week. Multiple analysts raised price targets following the print.

What Happened: After the market close on Thursday, Netflix reported first-quarter revenue of $10.54 billion, beating analyst estimates of $10.52 billion, according to Benzinga Pro. The streaming giant reported adjusted earnings of $6.61 per share, beating estimates of $5.74 per share. 

Markets were closed on Friday, so Monday marks the first trading session following earnings.

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

Netflix guided for 15% revenue growth in the second quarter, citing continued strong trends in memberships and advertising revenue. The company said it expects 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.

Check This Out: Netflix Crushes Q1, Says It’s ‘Working Hard To Improve And Expand’ Its Offering

Analyst Changes:

• Morgan Stanley analyst Benjamin Swinburne maintained Netflix with an Overweight and raised the price target from $1,150 to $1,200.

• Canaccord Genuity analyst Maria Ripps maintained Netflix with a Buy and raised the price target from $1,150 to $1,200.

• Piper Sandler analyst Matt Farrell maintained Netflix with an Overweight and raised the price target from $1,100 to $1,150.

• Rosenblatt analyst Barton Crockett maintained Netflix with a Buy and raised the price target from $1,494 to $1,514.

• Needham analyst Laura Martin reiterated Netflix with a Buy and maintained a price target of $1,126.

• JPMorgan analyst Doug Anmuth maintained Netflix with an Overweight and raised the price target from $1,025 to $1,150.

NFLX Price Action: Netflix shares were up 1.64% at $989 at the time of publication Monday, according to Benzinga Pro.

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