Netflix stock hits $200 for first time

Sign at headquarters of NETFLIX, Los Gatos, California, 10-19-05

AP (file)

Last Updated Oct 13, 2017 6:21 AM EDT

Netflix (NFLX) stock took a leg higher in early trade on Friday morning, hitting $200 for the first time. 

The stock peaked at $200.78 a share a few minutes after market open, and settled near $199 later in the morning.  

The move follows a year of strong stock gains for the video streaming company--it's up 60 percent year-to-date.   

Goldman Sachs analyst Heath Terry raised his price target from $200 to $235, and said in a client note, "We believe consensus subscriber estimates for Netflix ahead of Monday's earnings remain too low, particularly for the quarter, 4Q, and beyond," CNBC reported Friday. Several other analysts have noted recent price increase announcements and strong subscriber growth as reasons they remain bullish on the the stock's prospects. 

Earlier this month, Netflix announced it was raising prices ahead of the premiere of its second season of the nostalgic 1980s-themed blockbuster "Stranger Things," scheduled to be released on Oct. 27. Netflix last hiked U.S. prices in October 2015.

The company confirmed in a statement that it will keep its basic plan price at $7.99 per month. Prices for what it calls its "standard" plan will rise by $1 to $10.99 per month and "premium" plans will rise by $2 to $13.99.

Netflix earnings report date:

Netflix is expected to report third-quarter earnings on Oct. 16.