Shares of Netflix, Inc.(NASDAQ:NFLX) are spiking after Morgan Stanley upgraded the stock and research firm Pacific Crest issued a positive take on the shares in separate notes to investors earlier today. The analyst  set a $500 price target on the shares and recommended buying the stock on pullbacks.

Netflix Stock Summary

Netflix, Inc.(NASDAQ:NFLX) opened trading today as $438.04 and is trading in the range of 437.77-448.09 today. Netflix’s current valuation stands at $26.47 billion.

Analyst Actions

Netflix is currently covered by 32 Wall Street analysts. The mean target price is $418.22 according to First Call. This presents a downside to the current price of the equity. The Mean Recommendation sits at 2.6 which is based on 5 Strong Buy, 10 Buy, 3 sell and 18 Hold ratings.

The most recent analyst actions consisted of Evercore upgrading the stock last week and Topeka Capital Markets initiating coverage with a Buy rating in late May.

The current quarter EPS consensus estimate is 1.14 with revenue estimates of 1.34B. Sales are expected to grow at a 25% rate. Netflix reported actual earnings last quarter of 0.49 which beat the .40 consensus estimate, a 24.90% surprise.