As for overall subscribers, Netflix added 8.76 million subscribers for the third quarter, significantly higher than the 5.49 million that Wall Street estimated.
It's the biggest jump in subscribers since the second quarter of 2020, when Covid stay-at-home restrictions drove new sign-ups.
Analysts at Morgan Stanley upgraded the stock to overweight and raised its price target to $475.
Truist analyst Matthew Thornton said in a Thursday note that the password-sharing crackdown could continue to propel subscriber growth into the next year.
The firm also upgraded Netflix to a buy rating and raised its price target from $430 to $465.
Persons:
Covid, Morgan Stanley, Matthew Thornton, Thornton
Organizations:
Netflix