Jim Cramer Talked About These 11 Stocks Recently

4. Netflix, Inc. (NASDAQ:NFLX)

Cramer likes Netflix, Inc. (NASDAQ:NFLX) but mentioned the constant increase in stock price because of a stream of analyst price target increases.

“[The] second group that’s getting maybe too much love: This market is nuts for subscription products. I like these stocks too… They all have huge recurring revenue streams and membership dues, and their stocks are huge winners. All these are benefiting from endless positive research calls, they just appear each morning as if by magic. Netflix has the most fanboys and analysts will come out and raise its price target based on the new ad model, which is going so well. Then the stock goes higher, and then another analyst will come out the next day and raise her price target for the same reason. It just won’t stop, always on the same piece of information. That is not cricket.”

Netflix (NASDAQ:NFLX) is a leading global provider of streaming entertainment, offering a vast array of movies, TV shows, and original content to millions of subscribers worldwide. In the third quarter of fiscal 2024, the company reported a strong financial performance, with revenue growing by 15%, driven primarily by a 14% increase in its subscriber base. A key factor contributing to this growth is the rise in subscription prices, particularly in its core markets of the U.S. and Canada, where users are now paying an average of 5% more than the previous year.

As of September 30, the company’s subscriber count reached an impressive 283 million, a number that continues to climb each quarter. Spencer Neumann, the company’s CFO, noted that there are still “hundreds of millions of households that aren’t members,” suggesting significant potential for further growth. Looking ahead, Netflix (NASDAQ:NFLX) is projecting between $6 billion and $6.5 billion in free cash flow for fiscal year 2024.