NEW YORK (TheStreet) -- Netflix (NFLX) shares are up 1.1% to $325.43 in early market trading on Friday after the company announced that it was raising prices for new subscribers.
The Internet streaming service announced that it is increasing its fee for new subscribers by $1 to $8.99 a month, the first increase from the company's streaming service since its inception in 2010.
Must Read: Warren Buffett's 10 Favorite Growth Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Those already using the service will not be affected for another two years. The company reported having 48.4 million subscribers worldwide in its first quarter earnings report released last month.
TheStreet Ratings team rates NETFLIX INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NETFLIX INC (NFLX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."
Highlights from the analysis by TheStreet Ratings Team goes as follows: