Netflix shares hit an all-time high Friday, briefly passing through $200 for the first time ever, an incredible milestone for a video streaming company upending the traditional media industry.
The catalyst for the most recent surge was multiple top analysts on Wall Street raising their price forecasts for the company this week. But this year's gains have been about the over-the-top leader growing subscribers at an incredible pace.
Goldman Sachs reaffirmed its buy rating Friday and raised its price target for Netflix shares to $235, highest on Wall Street. It predicted the company will post subscriber gains above expectations for the next two quarters.
"We believe consensus subscriber estimates for Netflix ahead of Monday's earnings remain too low, particularly for the quarter, 4Q, and beyond," analyst Heath Terry wrote in a note to clients.
JPMorgan also reiterated its overweight rating Friday and raised its price target for Netflix shares to $225 from $210 Friday.
After jumping as much as 2.5 percent to $200.82, the stock pulled back slightly to $198.75 a share. The company is slated to report third quarter earnings on Monday.