What happened
Shares of Netflix (NFLX 9.71%) jumped Monday, rising as much as 6.5%. As of 3:30 p.m. EST, the stock was up 6.3%.
The stock's gain follows some big news for the company over the weekend. The streaming-TV company impressively won five Golden Globes for its programming. In addition, optimistic analyst commentary released on Monday could also be helping the stock.
Check out the latest Netflix earnings call transcript.
Image source: Getty Images.
So what
Netflix garnered five Golden Globes on Sunday, beating out Amazon's two Golden Globes for its Prime Video service. In addition, when it came to award counts, Netflix topped all other networks.
Three of these Golden Globes were for the company's TV series and two were for its movies, according to Deadline.
On a separate note, Piper Jaffray analyst Michael Olson reiterated his $430 price target for Netflix and said he believes the company will report better-than-expected fourth-quarter domestic subscriber growth. This would build on the company's strong momentum for subscriber growth in Q3.
Now what
Netflix's strong showing in the Golden Globes bodes well for the company's big investments in original content. These investments, which require significant up-front spending, are expected to weigh on the company's bottom line in Q4. So the pressure is on for these investments to pay off over the long haul.
Investors will get more insight into the company's business when Netflix reports fourth-quarter results on Jan. 17.
