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Netflix (NFLX) stock closed at a fresh record every day this past week, with shares securing their biggest weekly gain since January — and they could keep soaring.

A growing number of analysts are calling for the streaming giant's shares to soon trade in the quadruple digits.

On Wednesday, Pivotal Research analyst Jeff Wlodarczak raised his price target on Netflix to a Street high of $1,100 a share, implying over 20% upside based on current trading levels of around $900.

Bank of America's Jessica Reif Ehrlich followed one day later, boosting her target to $1,000 from $800. Jefferies analyst James Heaney also raised his target to $1,000 earlier this week.

The price target increases come despite some concerns over slowing growth for the streaming giant.

Wall Street analysts who cover Netflix have a median price target of just around $800 a share, according to the latest Bloomberg consensus estimates.

One of the main catalysts for the recent price target boosts is the company's continued foray into live events, with the most recent boxing match between Jake Paul and Mike Tyson attracting over 108 million global viewers last weekend to become the most-streamed sporting event of all time.

For context, the 2024 Super Bowl, which was the most-watched American TV broadcast ever, pulled in 124 million US viewers.

The Netflix event's impressive numbers came despite the streamer experiencing several technical glitches throughout the broadcast, which analysts (and investors) mostly shrugged off.

"We view the event as a (very) successful learning experience for NFLX and expect these technical issues will not happen again with future live events," Pivotal Research's Wlodarczak wrote on Wednesday.

The analyst said the event's success likely means Netflix will "accelerate its offerings of 'eventized' live programming," which will help lower subscriber churn and increase the streamer's ability to raise prices.

"The NFLX service remains a highly compelling, frankly relatively inexpensive, entertainment alternative for consumers, which bodes well for future subscriber/average revenue per user growth," he said.

Netflix's 'complementary growth drivers'

Since the start of the year, Netflix shares have surged roughly 85%, far outpacing the broader markets and streaming rivals, including Disney (DIS) and Comcast (CMCSA). Over the 5-day period ending on Friday, the stock climbed about 9%. Much of the uptick has been driven by the company's push into live content and the positive impact that could have on its ad-supported offering.