Netflix Bull vs. Bear Verdict: Pros

The "Fast Money" traders took sides Tuesday in the Netflix debate between bull Mark Mahaney of RBC Capital Markets and bear Michael Pachter of Wedbush Securities.

(Watch Video: Netflix Bull vs. Bear Debate: Mahaney vs. Pachter)

In its second quarter, Netflix topped Wall Street expectation, posting a profit of $2.7 million, or 5 cents per share, in the quarter. That contrasted with a loss of $4.6 million, or 8 cents per share, last year.

(Read More: Netflix Shares Soar After Earnings Beat)

"I don't know if you chase it up here, but I definitely wouldn't be short Netflix," Rosecliff Capital's Mike Murphy said on CNBC. "I think that the business model does work."

Murphy said that his family had recently signed up for the online video streaming service.

"For eight bucks, you get more than your money's worth," he said. "I think the stock can continue to run."

Josh Brown of Fusion Analytics said that he had moved from a bearish view of Netflix to a more bullish stance.

"I've been a skeptic, and the biggest argument against Netflix was that competition was going to crush them," he said. "I'm now listening to that for 12 years. It hasn't happened."

Brown cited, Hulu, Time Warner and Comcast as competitors that looked poised to pummel Netflix. (Comcast is the parent company of NBC Universal and CNBC.)

"Everyone's about to kill Netflix," he said. "Let me know when it happens. In the meantime, they're controlling the story."

Stephen Weiss of Short Hills Capital said that he liked the company's offerings.

"However, I can't get comfortable with the valuation," he added.

(Read More: Netflix Bear Sees Content Cliff Ahead)

SkyBridge Capital's Anthony Scaramucci noted the company's negative $42 million cash flow.

"This is a falling-knife sort of a stock for investors," he said. "I would be super-careful in this name, not short it, but there's no reason to be long this stock here."