Key Takeaways

Investors have been buying shares of Netflix, sending the streaming giant's stock higher ahead of its scheduled earnings release this evening.

Netflix ( NFLX ) shares traded for about $970 Thursday morning, up more than 5% from where they closed Friday and more than 1% today. (Read Investopedia's live coverage of today's trading here .) Bullish research notes and a Wall Street Journal article discussing growth targets appear to have buoyed optimism in the streaming service.

Traders will watch today’s earnings closely; options prices suggest the update may send Netflix’s stock up or down by up to 8.5% .

Analysts have touted Netflix’s ability to withstand an economic downturn, with JPMorgan describing it as the “most resilient” company it tracks. Netflix has also attracted attention for its attempt to double its revenue and achieve a market capitalization of $1 trillion by 2030, which the Journal reported earlier this week.

Analysts expect Netflix to report $10.5 billion in first-quarter revenue, a 12% increase from a year earlier, according to consensus estimates from VisibleAlpha. They anticipate net income increasing 6% year-over-year to $2.47 billion, per VisibleAlpha.

Netflix shares have been on an upward trajectory for months, climbing 58% in the past year.

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