Netflix Inc. has been attracting a lot of attention lately for its crackdown on password-sharing. However, it is proving to be a more long-term investment than Wall Street thought.

Netflix NFLX – 8.27%, on the other hand, fell short of expectations in terms of revenue and admitted that it has been unable to increase prices, which was a key driver for growth.

In a note published on Wednesday, Wells Fargo’s Steven Cahall stated that “patience is a virtue.” “We believe investors were overly enthusiastic about paid sharing and, while [revenue] will take longer, we think that it creates an entrance point for patient [long-term] investor.”

Netflix shares fell more than 7% on Thursday morning, a sign that the dynamic may be causing short-term pressure.

Related: Netflix earnings brings big subscriber windfall but stock gets dragged down on light revenue forecast

Cahall wrote that paid sharing can still help Netflix gain market share in global streaming. He gave the stock a overweight rating and a price target of $500. “We are happy to wait for a share-gainer.”

According to Oppenheimer Analyst Jason Helfstein in a note published Thursday, the “slow roll of paid sharing” in the second quarter surprised investors. He added that Netflix NFLX has its eye on the future. He wrote that “management” is timing the impact on premium subs in September around seasonal usage and content launches, as well as the impact of the strike on linear television. The analyst maintained an overweight rating and raised his target price from $500 to $515.

FactSet surveyed 21 analysts who raised their price targets in response to the results. No analyst lowered them.

Related: Crackdown on Netflix password sharing seems to be working

MarketWatch quoted Paolo Pescatore as a technology analyst with PP Foresight. He said that Netflix’s crackdown on password sharing could cause some short-term user backlash but the company is “placing all the building block for future revenue growth”.

Netflix will also be able to generate more revenue in the future, thanks to the removal of its basic service tier from its core markets.

Pescatore stated that “the company remains in a much stronger position than its competitors and is the benchmark.”

Related: Crackdown on Netflix password sharing seems to be working

Matthew Harrigan of Benchmark, on the other hand, was pessimistic. He reiterated his sell rating and $293 price objective.

He believes that the company is well positioned in scripted television if the current writers and actors continue to work, but the lack of news and sports content and live events hurts the company. Netflix’s shares are overvalued in his opinion.

Related: The same strike is happening for actors, writers, hotel workers, and graduate-student employees

The S&P 500 SPX gained 18.8%, while the stock gained 49.8%.