Analystst at Barclays are out with a report this morning upgrading shares of Netflix, Inc. (NFLX) with an ‘Equal-weight’ from ‘Underweight’ rating. The firm currently has a $480 12-month base case estimate on the stock, up from their previous price target of $420. Barclays said it based its upgrade on the stock’s gains, which according to the firm have been smaller than its peer group. The firm also said it now sees the risks involving the company as more balanced.
NFLX shares are currently priced at 182.04x this year’s forecasted earnings compared to the industry’s 13.78x earnings multiple. Ticker has a forward P/E of 73.19 and t-12 price-to-sales ratio of 5.92. EPS for the same period is 2.66.
In the past 52 weeks, shares of the Los Gatos, California-based company have traded between a low of $282.80 and a high of $489.29 and are now at $481.56. Shares are up 60.64% year-over-year and 31.51% year-to-date.
The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.