Netflix continued its upward momentum on Wednesday after hitting a record high in Tuesday’s session. A number of factors are responsible for driving the stock price up this week, and a few are discussed below.

Netflix, Inc. Should Be Worth $100 Billion: Cramer

Analyst comments pushing the stock

TheStreet’s Jim Cramer believes the firm should have a market capitalization of $100 billion. Cramer, the Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio, noted investors also realize that the stock is undervalued as the streaming firm is much bigger than the other networks. Calling it a “worldwide defacto channel,” Cramer said the growth opportunities are immense in the overseas markets.

Separately, Guggenheim Partners initiated coverage on Netflix with a bullish note on Tuesday, and a price target of $160. Analysts view the stock as a good bargain with a balanced risk/reward ratio, and expect the international subscriber base for the firm to rise sharply.

RBC Capital Markets’ Mark Mahaney is also bullish on the streaming firm, and believe Netflix should be the only choice for investors looking to trade the traditional cable package. Though the analyst accepted the stock is expensive, he urged investors to hold the stock for at least a year considering the “sum-of-the-parts basis.”

“Our thought is that cable unbundling has been happening for quite some time, but if we’re going to hit an inflection point now, which maybe we are, Netflix is the derivative,” Mahaney told CNBC’s “Squawk Alley,” On Wednesday.

Netflix announcement positive for stock

With its rich content, Netflix has time and again proved that it cares for users, but the company’s most recent announcement reflects the importance of employees to the streaming firm. Enhancing its employee benefits, the Internet streamer recently noted it is allowing new parents to take as much time off as they want in the first year after the birth or adoption of a child.

Netflix’s push to expand its operation in Asia also pushed the stock price up this week. The streaming firm revealed plans to launch its services in Japan on Sept. 2nd. Netflix CEO Reed Hastings said that in Japan, the service will focus on localized content along with an active pricing strategy. Further, Hastings noted the U.S. firm enjoys the backing of major Japanese consumer electronics brands such as Sony, Panasonic and Toshiba. These brands will be integrating a Netflix button in their TV sets for sale in Japan.