11 Best Stocks to Buy According to Jim Simons’ Renaissance Technologies

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3. Netflix, Inc. (NASDAQ:NFLX)

Renaissance Technologies Stake: $721,161,111

Stock Performance (end Q2-October 9): -7.99%

Number of Hedge Fund Holders: 133

Netflix, Inc. (NASDAQ:NFLX) is one of the best stocks to buy according to Jim Simons’ Renaissance Technologies. On October 7, Seaport Global Securities upgraded Netflix, Inc. (NASDAQ:NFLX)’s stock rating from Neutral to Buy and set a new price target of $1,385. The firm based the upgrade primarily on the huge potential for advertising revenue growth.

Seaport Global projects Netflix’s ad revenue to double in 2025 to about $3.1 billion and then continue growing at an annual rate of 48% through 2030. This means it could touch $16 billion in half a decade’s time. The firm incorporated increased operating leverage and advertising revenue growth into its financial projections.

The analysts view Netflix as the dominant player in the streaming industry. This dominance is made possible by “strong engagement” on the platform, which is in turn supported by “professional, curated content”. This content strategy, stated Seaport Global, is a key driver behind Netflix’s market share gains against traditional linear television.

Netflix, Inc. (NASDAQ:NFLX) is a global entertainment company. It offers subscription-based streaming services across more than 190 countries. The company produces and distributes content across several categories, including television series, documentaries, original programming, and films. It also operates an ad-supported tier geared at expanding user base and revenue streams.

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