NEW YORK (TheStreet) -- Netflix (NFLX - Get Report) investors are enjoying 2015. Shares are up a robust 40% and on Wednesday the company beat on EPS estimates and reported in-line revenue results. Netflix topped analysts' expectations on both domestic and international subscriptions. The stock was up 12% in after-hours trading.
"Unbundling" is very good for Netflix, Tim Seymour, managing partner of Triogem Asset Management, said on CNBC's "Fast Money." Consumers increasingly want to drop their cable subscriptions and pay for services like Netflix, Hulu and HBO Now.
While some investors were worried about competition on this front, Seymour says it will be good for Netflix. The company continues to grow its international subscriber base, which should be a big driver going forward.
Unbundling, or "cord cutting," is "massively beneficial" to Netflix, according to Dan Nathan, co-founder and editor of riskreversal.com. While he isn't a buyer of the stock based on valuation, it does have strong upside momentum.
After such a big move, investors should consider taking profits, said Steve Grasso, director of institutional sales at Stuart Frankel. Seymour agreed, adding he would be a buyer near $500. Nathan said investors who are currently long Netflix can consider using $500 as their stop-loss level.
The stock has an expensive valuation based on its price to earnings ratio, according to Guy Adami, managing director of stockmonster.com. However, Netflix has incredible subscriber growth and investors who are long can use $485 as their stop-loss.
Michael Pachter, managing director at Wedbush Securities, thinks the stock is unattractive on a valuation basis. That's the reason he has a sell rating and $245 price target on the stock. In a recent research note he expected Netflix to top expectations for this quarter. Investors aren't worried about cash flows and profits, he explained, but they care about subscription growth.
It's almost "inevitable" that Netflix will raise prices, which will also be a plus for the company, he said. However, until the company turns cash flow positive and begins to grow that metric on a consistent basis, he will remain pessimistic on Netflix.
SanDisk (SNDK) fell nearly 6% in after-hours trading following its miss on EPS estimates. This comes after the company issued a disappointing pre-announcement in late March. The stock was down 27% on the year before the company's earnings results were released.
While shares seemed to have support near $70, it's not unfathomable to think SanDisk could trade at just 10 times earnings, given its deteriorating business, Nathan said. Based on its current earnings this year, that would put the stock at roughly $55. The issues at SanDisk appear to be company-specific, Seymour added, as Micron (MU - Get Report) has seen as stabilizing in its product pricing.
Etsy priced its stock at $16 ahead of Thursday's initial public offering, bringing it to a value of $1.78 billion. However, while the company is going public, it could also be a takeover target, according to Edmund Lee, managing editor at Re/code.
Most notably, Amazon (AMZN - Get Report) or Alibaba (BABA - Get Report) could buy the company. Lee explained that Etsy has clearly figured out an e-commerce model, unlike Amazon or eBay (EBAY - Get Report), and that gives Etsy value.
For their final trades, Seymour is selling the iShares China Large Cap ETF (FXI - Get Report) and is looking to buy it back near $48. Nathan is a buyer of GoPro (GPRO - Get Report), Grasso said to buy Peabody Energy (BTU - Get Report) and Adami is buying Investment Technology Group (ITG).