Netflix stock hit an all-time high on Friday, soaring above $630 a share. It has now rallied 85 percent on the year, but according to one top trader, the rally has only just begun.
"I think Netflix is on the way to $1,400 a share in five years," Cowen and Co.'s head of sales trading, David Seaburg, proclaimed Friday on CNBC's "Trading Nation." A move to $1,400 would more than double the current price of the stock.
And according to Seaburg, the catalyst could come from overseas growth. "You see the stock really started to pop when Netflix began talking about international expansion," he said. "International growth for Netflix is really the story here."