“We have to take a wait-and-see approach because we have priced in all of the good things that are happening,” said Sanchez. “Wait and see is probably where you need to be on Netflix.”
Binger, too, is keeping cautious.
“I’d much rather step back and if for some reason this stock price came down a little bit, invest then,” said Binger.
Others on the Street are more bullish on Netflix. Deutsche Bank on Friday upgraded its rating to buy from hold, based on expected strength in international markets this year. Analyst Bryan Kraft said that its leadership in the space had made it “very difficult for the traditional media companies, or even other big tech companies, to catch up.”
Kraft also upped his price target to $350, implying 12 percent upside from current levels.