In this article, we will take a look at the 5 best Jim Cramer stocks to buy now. To see more such companies, go directly to 13 Best Jim Cramer Stocks To Buy Now.
5. Uber Technologies, Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 146
In November, Jim Cramer said the following about Uber in a program on CNBC:
”[Buy, buy, buy!] I think this was the beginning of what is going to be a period where some of these companies that became public during the era are just breaking away from the pack. That was an amazing number, Uber, and let me throw in DoorDash.”
RiverPark Advisors made the following comment about Uber Technologies, Inc. (NYSE:UBER) in its Q3 2023 investor letter:
“Uber Technologies, Inc. (NYSE:UBER): UBER was the top contributor in the quarter following a better-than-expected 2Q23 earnings report and 3Q23 guidance. Gross bookings of $33.6 billion were up 16% year over year. Mobility gross bookings of $17 billion grew 25% over last year driven by a combination of product innovation and driver availability. Delivery gross bookings of $16 billion were up 12% from last year. 2Q Adjusted EBITDA of $916 million, up $552 million year over year, significantly beat Street estimates of $845 million and the company generated $1.1 billion of free cash flow. Management guided to continuing growth in 3Q Gross Bookings (17%-20% growth) and Adjusted EBITDA (of $975-1,025 million).
UBER remains the undisputed global leader in ride sharing, with a greater than 50% share in every major region in which it operates. The company is also a leader in food delivery, where it is number one or two in the more than 25 countries in which it operates. Moreover, after a history of losses, the company is now profitable, delivering expanding margins and substantial free cash flow. We view UBER as more than just ride sharing and food delivery, but also as a global mobility platform with the ability to sell to its 130 million users (by comparison, Amazon Prime has 200 million members) and penetrate new markets of on-demand services, such as package and grocery delivery, travel, and worker staffing for shift work. Given its $4.3 billion of unrestricted cash and $4.4 billion of investments, the company’s enterprise value of $95 billion equates to just over 20x next year’s estimated free cash flow.”
4. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 180
A few days ago Jim Cramer said that despite the 230% gain, NVIDIA Corporation (NASDAQ:NVDA) is a stock to own not to trade. Cramer said that NVIDIA Corporation (NASDAQ:NVDA) has gained mainly due to its earnings expansion rather than its multiple expansion. He said that if a stock keeps gaining based on the same earnings, it becomes expensive. But that’s not the case with NVIDIA Corporation (NASDAQ:NVDA), according to Cramer.
A total of 180 hedge funds tracked by Insider Monkey had stakes in NVIDIA Corporation (NASDAQ:NVDA) as of the end of the third quarter of 2023.
3. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 234
In February this year, Jim Cramer said that despite problems he stuck with Meta Platforms, Inc. (NASDAQ:META) and then ChatGPT came which was a game changer and boosted the company stock amid the AI rally that ensued. Meta Platforms, Inc. (NASDAQ:META) has gained about 160% year to date through December 4.
As of the end of the third quarter of 2023, 234 hedge funds reported owning stakes in Meta Platforms, Inc. (NASDAQ:META). The biggest stakeholder of Meta Platforms, Inc. (NASDAQ:META) was Rajiv Jain’s GQG Partners which owns a $3.3 billion stake in the company.
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 286
In September, Jim Cramer praised Amazon.com, Inc. (NASDAQ:AMZN)’s Cloud business in a program on CNBC and said Andy Jassy, Amazon.com, Inc. (NASDAQ:AMZN)’s CEO, is “back” and he’s in his “prime.”
As of the end of the third quarter of 2023, 286 hedge funds tracked by Insider Monkey had stakes in Amazon.com, Inc. (NASDAQ:AMZN). The biggest stakeholder of Amazon.com, Inc. (NASDAQ:AMZN) was Ken Fisher’s Fisher Asset Management which owns a $5.3 billion stake in Amazon.com, Inc. (NASDAQ:AMZN).
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 306
Jim Cramer couldn’t stop talking about Microsoft Corporation (NASDAQ:MSFT) throughout the year. A couple of months ago, in a program on CNBC, he praised Microsoft Corporation (NASDAQ:MSFT)’s Copilot and said that “people forgot about” the tool and how useful it is. Cramer also believes Microsoft Corporation (NASDAQ:MSFT) shares have more room to run. Cramer said:
“I think it’s better to put Microsoft Corporation (NASDAQ:MSFT) front and center in AI. They’ve got a real AI product. That is definitely, as Citi says, ‘a rich catalyst.’” Cramer said.
Microsoft Corporation (NASDAQ:MSFT) is the most popular stock among the 910 hedge funds tracked by Insider Monkey. The biggest stakeholder of Microsoft Corporation (NASDAQ:MSFT) after Bill Gates was Ken Fisher’s hedge fund which had an $8 billion stake in the company.
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