5 Best Streaming Stocks To Buy Now

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 279

Amazon.com, Inc. (NASDAQ:AMZN) ranks first on our list of the best streaming stocks to buy. The e-commerce giant offers a wide range of entertainment content through its Amazon Prime Video platform, which has approximately 175 million subscribers from around the world.

UBS analyst Lloyd Walmsley in late April kept a ‘Buy’ rating on Amazon.com, Inc. (NASDAQ:AMZN) stock, noting that it is trading at attractive valuations of 50.2x earnings and 13.6x expected EBITDA for 2023. He sees the company as a compelling option for consumers in the current high inflationary environment, given its quick delivery, price and product selection.

Of the 924 elite hedge funds tracked by Insider Monkey, Amazon.com, Inc. (NASDAQ:AMZN) was the most widely-held stock with 279 bullish hedge funds bets reported at the end of the fourth quarter. This shows improving investor confidence over the previous quarter where 242 hedge funds held stakes in the company.

Here is what investment firm Miller Value Partners had to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2022 investor letter:

“For frame of reference, Amazon (NASDAQ:AMZN) bottomed at the same valuation in the financial crisis (side note: Amazon bottomed at 4x EV/GP after the tech bubble burst)! So there’s historical precedent for the lows being in. We will see whether that holds true this time. Regardless, we think there’s significant upside over a 5-year time horizon. The one other topic I want to briefly address is our volatility. We hope to write something about the topic in more depth in the future, but we want our clients and prospective investors to understand our views on it. We think that volatility is significantly misunderstood. We believe it creates opportunities from which we can profit.”

You can also take a look at 15 Biggest Companies That Have Been Hacked and Billionaire John Paulson’s Top 10 Stock Picks

Follow Insider Monkey on Twitter