UPDATED: Netflix shares jumped 6% Monday, coming on the heels of the company taking home five Golden Globe Awards on Sunday night and another bullish Wall Street analyst call.
The streamer took home Globes trophies in major categories for Alfonso Cuarón’s art-house-y film “Roma” and Chuck Lorre’s comedy “The Kominsky Method.”
The rise in Netflix’s stock, which closed at $315.34 per share on the day, exceeded a more modest uptick in the broader market. Also Monday, Piper Jaffray analyst Michael Olson issued a report predicting Netflix will beat Wall Street expectations for U.S. streaming-subscriber additions for the fourth quarter of 2018. Olson wrote in a research note that the firm’s model, based on an analysis of Google search trends, points to “directionally positive” domestic growth, “showing a high likelihood of a strong Q4 for Netflix domestic sub adds, with in-line int’l subs.”
Investors rallied behind Netflix’s stock last Friday, when shares closed up 9.7% to $297.57 per share, helped by a bullish call from Goldman Sachs. The company’s shares are still well below their over-$400-per-share highs in 2018.
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Last September, Netflix shares rose after the streamer won 23 Emmy Awards, gaining 4.9% on Sept. 18.
On Sunday night, Netflix won three Golden Globes for TV series and earned a best foreign film and a directing award for “Roma,” Cuarón’s black-and-white meditation on his childhood growing up in Mexico City. (“Roma” was ineligible for the top drama prize because the dialogue was virtually entirely in Spanish and Mixteco.)
In the TV categories, Netflix’s “Kominsky Method” won the best comedy prize and best actor in a TV comedy for Michael Douglas, while Richard Madden, star of Netflix’s British “Bodyguard” series, won a best actor in a TV drama prize.
In his acceptance speech, a stunned Lorre ended his thank-yous by saying “Netflix, Netflix, Netflix” — much to the delight of Netflix content boss Ted Sarandos, who was in the audience.
Backstage at the Golden Globes, Cuarón defended Netflix’s model in challenging a journalist’s question about whether streaming services were contributing to the death of independent cinema.
Pictured above: Alfonso Cuarón’s “Roma”
