Netflix is on the verge of reporting a blockbuster second quarter earnings report, according to Goldman Sachs.
Business Insider reports that Goldman Sachs is basing their judgement on strong app download trends
On Friday, Goldman raised its Netflix price target to $670, representing upside potential of 32% from Thursday’s close.
The firm said COVID-19 continues to accelerate the trend towards video streaming services.
Goldman Sachs said Netflix is a prime beneficiary of that trend.
Goldman believes Netflix could add at least 12.5 million total net paid subscribers in the second quarter.
That figure would be well ahead of Netflix’s guidance of 7.5 million.
