The streaming video giant is now offering its streaming video service in France, Western Europe's second-largest market. They have also cut a deal with Bouygues Telecom, the country's third-largest telecom company, putting Netflix in set-top boxes.
This isn't Netflix's first foray into the global markets. It's already available in over 40 countries, and it ended the second quarter with 13.8 million out of its 50 million subscribers hailing from outside the United States.
Besides France, Netflix will also add Germany, Austria, Switzerland, Belgium, and Luxembourg to its list of countries this month.
However, will Netflix's global plans mean anything for shareholders?
"Netflix definitely needs this kind of expansion," said Gina Sanchez, founder of Chantico Global. She notes that international subscribers have been a huge factor in its growth. The company reported that its non-U.S. subscriber numbers are up 78 percent year-over-year in the second quarter of 2014. "This continued move into Europe will certainly add momentum to that," she added.
(Read: Netflix will focus on ramping up in Europe over next year)
But that isn't to say Netflix stock is a value. It currently trades at 81.4 times the next 12months expected earnings, according to data from FactSet. "While I think this expansion in Europe is going to be key and important," said Sanchez, a CNBC contributor, "this is still a challenge for them to catch up to those really heady expectations."
Like Sanchez, Richard Ross, global technical strategist at Auerbach Grayson, is also wary of Netflix's stock. In fact, he takes it one step further – he thinks it's a sell.
"I love 'Orange is the New Black,' but I do not like the stock here," said Ross, a "Talking Numbers" contributor. Though he sees the stock as having formed what looks to be a bullish cup-and-handle pattern over the past year, he thinks it is bound to fail.
"The stock has stalled below that key area of support, which is now resistance back around $470" per share, Ross said. While the stock is up 43 percent since the end of April, Ross thinks the tech sector as a whole is starting to get jittery. On Monday, the Nasdaq Composite index was down about 1 percent even though its largest component, Apple, was up slightly.
(Read: Tech shares drag Nasdaq, S&P 500 little changed)
"You want to be out of highflying momentum stocks right now during this period of heightened volatility and historically weak seasonality," Rosssaid. "Netflix is a great example of a stock you want to avoid and potentially sell right here."
To see the full discussion on Netflix, with Sanchez on the fundamentals and Ross on the technicals, watch the above video.