Rapid rally of technology companies’ shares continues and today Netflix sets a new record: the company's stocks rose by more than 8% in one day, their price exceeded $550, and set the new all-time high.
![Image Source: TradingView NFLX](/image/800/0/IOpGpmXkbuqQbCwzCIcd6DmV9SJ1zMGdRo95cQMJ.png)
Jamin Ball, a VP of Redpoint, notes that contrary to analysts' expectations, Netflix's shares have not lost their positions due to increased competition in the market of streaming services and its price is up by 60% since January, which is an astonishing result.
![Image Source: Twitter @jaminball](/image/800/0/1nw9h7SCBQAvzLsGA7QZKRoICpvsNSg19JR30xfD.png)
Moreover, Goldman Sachs raised the Netflix's target price from $540 to $670, noting that there are extremely promising growth prospects after the publication of reports for the second quarter.
Ross Gerber, a co-founder and a CEO of Gerber Kawasaki advisor, also pointed out the growth rate of Netflix quotes and believes that the rally will go on.
![Image Source: Twitter @GerberKawasaki](/image/800/0/ImlDCcO4Z6f9xX2W9HaRONoBzRgrP9iCQkfLU0Yp.png)
He also believes that during the pandemic Netflix became one of a few companies that were able to turn the situation in its favor and that is why digital saving currently dominates the exchange, pulling money from all other industries.
![Image Source: Twitter @GerberKawasaki](/image/800/0/IOPbBORlljClMbq6gU99IlmgDkoRvF2cUzydwvyU.png)