Jim Cramer’s Top 5 Stock Picks for 2023

2. Netflix, Inc. (NASDAQ:NFLX)

Number of Hedge Fund Holders: 115

Netflix, Inc. (NASDAQ:NFLX) is a movies and entertainment company based in Los Gatos, California. It offers TV series, documentaries, feature films, and more on its online streaming platform.

A Buy rating was reiterated on Netflix, Inc. (NASDAQ:NFLX) shares on February 8 by Jefferies analyst Andrew Uerkwitz.

Jim Cramer sees Netflix, Inc. (NASDAQ:NFLX) as an improving franchise that will appeal to growth-oriented money managers, stating that the company has really turned itself around in the past few years. The company increased its subscribers in 2022 by 7.66 million to 230.75 million between October and December alone, beating the company’s own October guidance.

There were 115 hedge funds long Netflix, Inc. (NASDAQ:NFLX) in the third quarter. Their total stake value was $6.7 billion.

Alger Capital, an investment management company, mentioned Netflix, Inc. (NASDAQ:NFLX) in its fourth-quarter 2022 investor letter. Here’s what the firm said:

“Netflix, Inc. (NASDAQ:NFLX) provides a subscription-based service for streaming movies and television episodes over the internet. In doing so, it is redefining how people consume entertainment in a rapidly digitizing world. Shares outperformed during the period as the company reported solid third quarter results, driven by net subscription additions that beat expectations. Management also raised fiscal fourth quarter guidance owing to strong customer acquisitions across all regions. Moreover, the company remains optimistic on new monetization efforts around ad pricing within their basic account tier.”