Netflix, Inc. (NFLX - Get Report) stock has been on an absolute tear so far in 2018. After hitting new all-time highs earlier this week, shares are up almost 70% year to date.

The momentum has been impressive and even more so considering the broader market's tumble in early February. However, some analysts think it can continue. Piper Jaffray analyst Michael Olson maintains his overweight rating, but bumped his price target to $360 from $319.

He argues that search trends "suggest upside potential for international subscribers and an in-line first quarter for domestic [subscribers]."

As it stands, consensus estimates call for about 10% year-over-year growth for domestic subscribers. On the international side, analysts are looking for 40.1% year-over-year growth, which is the figure Olson believes Netflix can top.

Netflix stock surged 4.56% and actually closed at a new all-time high Friday, at $331.44. At current levels, Olson's price target implies about 8.7% upside. 

On a separate note, Netflix is reportedly in "advanced negotiations" with Barack and Michelle Obama for a content deal, according to the New York Times.

For what it's worth, Apple Inc. (AAPL - Get Report) and Amazon.com, Inc. (AMZN - Get Report) have also reportedly been in discussion with the Obamas as well.

So far, terms of the deal, the show's format and the number of episodes has not yet been determined. However, the content will reportedly not directly address President Trump or conservatives, but rather, "highlight inspirational stories."

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This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.