Netflix shares have roughly doubled in the past year, setting a high bar for future growth as the company's market capitalization overtakes the valuations of rivals Disney, Comcast, Warner Bros. Discovery,

Shares of Netflix rose 13% in afterhours trading as investors cheered the company's first U.S. price hike since 2023. The streaming service's move aims to capitalize on surging demand and sharp subscriber gains in the fourth quarter.

Technically, the stock’s price is likely to drop back into a “normal” range around $930 over the next week of trading. From there, expect to see a consolidation that will lead to a robust trend towards a target price above $1,000.

The company raised subscription prices across most plans in the U.S. and several other markets. It added 19 million subscribers in the fourth quarter of last year.

Netflix is starting off the new year with another subscription price hike. The latest price change, Netflix's first in the U.S. since October 2023, comes after the company reported adding a record 19 million new subscribers in the most recent quarter for a total of 302 million members.

The change comes amid a moment of major success for the company, which also announced it now has more than 302 million subscribers across the globe, with 19 million of those people signing up in the last quarter.

Learn more Streaming subscription price increases continue to roll out across several top services, and Netflix is the latest to announce a change. The streaming giant just announced a price hike, bringing the cost of its Standard ad-free plan up to $18/month in the US.