5 Best Streaming and TV Stocks To Buy Now

4. Netflix, Inc (NASDAQ:NFLX)

Number of Hedge Funds In Q2 2023: 114

Netflix, Inc (NASDAQ:NFLX) is an American subscription video-on-demand over-the-top streaming service that primarily distributes films and television series produced by the media company of the same name from various countries. 

On August 25, 2023, Alan Gould, an analyst at Loop Capital, upgraded the stock from ‘Hold’ to ‘Buy’ and increased his price target to $500. This upgrade is underpinned by improved fundamentals and compelling valuation as catalysts. Gould highlighted Netflix’s potential to thrive amid increasing competition, where many of its competitors are raising prices for their streaming services while reducing spending on content.

Netflix’s robust content pipeline and global production capabilities position it as one of the most resilient players in the media industry, particularly in the face of ongoing writer and actor strikes. Gould believes that the growing popularity of streaming and the decline of traditional TV may further enhance Netflix’s growth prospects.

According to Insider Monkey’s database, in the second quarter of 2023, a total of 114 hedge funds had stake in Netflix, Inc (NASDAQ:NFLX), showcasing continued investor interest in the streaming giant. Among these, Eagle Capital Management held the largest share, valued at an impressive $1.49 billion.