After underperforming the broader markets following the easing of COVID restrictions in 2022, Netflix (NFLX) stock roared back strongly. The stock has gained more than 136% over the past year and has risen by about 48.5% year-to-date, easily outperforming the S&P 500 Index (SPY) ($SPX) . Despite the recent rally, shares of this streaming giant are still down approximately 37% from all-time highs.
While investors cheered the company’s recent efforts to reaccelerate growth, let’s understand whether it makes sense to buy NFLX stock at the current valuation.
