MoffettNathanson analysts increased their price target for Netflix (NASDAQ:NFLX) from $390.00 to $440.00, while maintaining their Neutral rating on the stock.

The analysts revised upwards their forecast for Netflix's global net paid subscriber additions in the fourth quarter, increasing the estimate by 2 million to a total of 10 million, compared to the previous estimate of 8 million. This revised forecast includes an expected addition of 2 million subscribers in the UCAN region, surpassing the consensus of 1.7 million, and another 8 million across EMEA, LATAM, and APAC regions. Consequently, this places the analysts’ estimates 1.2 million above consensus expectations for the quarter.

Following this adjustment in subscriber growth and considering currency exchange factors, the analysts now project a 12% growth in fourth-quarter revenue to $8.8 billion, which is 1% higher than Street expectations.