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.

Analysts predicted live sports might power a Netflix subscriber beat. But as the company trounced the expectations, management said sports drove only a “small minority” of additions.

Netflix's earnings report sent its stock surging — and made it a bit more clear how sports content impacts the company's present and future.