In a remarkable display of market confidence, Netflix shares jumped 1.8% to an all-time high on Wednesday, reaching a price level of $1239.66 with a market capitalization of $527.56 billion.

This milestone underscores the company’s robust performance and investor optimism about its future prospects. Over the past year, Netflix has delivered a remarkable 92.8% return, with revenue growing 15% to $40.2 billion. The streaming giant’s success can be attributed to its expansive library of content, strategic partnerships, and a strong increase in global subscribers, which have collectively fueled the stock’s ascent to this record-breaking high.

In other recent news, Netflix has seen several financial analysts raise their price targets for the company’s stock, reflecting strong growth prospects and strategic initiatives.

UBS increased its price target to $1,450, citing supportive trends and competitive dynamics that could enhance Netflix’s monetization and operating leverage.

Jefferies also raised its target to $1,400, pointing to a robust lineup of content releases and recent price increases in the U.S. that are expected to drive revenue growth. BofA Securities lifted its target to $1,490, highlighting Netflix’s impressive performance and growth in subscriber numbers, with a notable gain of 19 million net additions in the fourth quarter.

Evercore ISI set a new target of $1,350, emphasizing Netflix’s potential for growth within a vast market and its positive financial trends, including increasing operating margins and free cash flow.

In addition to these financial updates, Netflix’s co-founder Reed Hastings has joined the board of directors at Anthropic, a company focused on the development of AI systems. Hastings’ experience with Netflix and his philanthropic efforts in education and technology were key factors in his appointment. These developments underline Netflix’s strategic positioning and potential for continued success in the competitive streaming industry.