In this piece, we’ll take a look at the 5 Best Streaming Stocks To Buy Now. For more such companies, go to 11 Best Streaming Stocks To Buy Now.
5. The Walt Disney Company (NYSE:DIS)
Number of Hedge Fund Holders: 112
Founded in 1923, The Walt Disney Company (NYSE:DIS) is a leading media and entertainment company known for its iconic franchises, including Mickey Mouse, Star Wars, and Marvel, and its theme parks, which include Disneyland and Walt Disney World. The Walt Disney Company (NYSE:DIS) produces and distributes a wide range of content, including movies, television shows, and animated films, and has a strong presence in the streaming market with its streaming service, Disney+. In addition to its production and distribution businesses, the company also operates a number of television networks and digital platforms, including ESPN, ABC, and Freeform.
On November 22, 2022, Ivan Feinseth, an analyst at Tigress Financial, reduced his price target on The Walt Disney Company (NYSE:DIS) to $177 while keeping a Buy rating on the company’s stock. According to the analyst, the continued production of blockbuster content and the shift toward creativity with the return of its former CEO will keep fueling The Walt Disney Company (NYSE:DIS)’s growth.
At the end of Q3 2022, 112 hedge funds in Insider Monkey’s database were long The Walt Disney Company (NYSE:DIS). Fisher Asset Management remained the leading stakeholder of the company at the end of Q3 2022.
4. Netflix, Inc. (NASDAQ:NFLX)
Number of Hedge Fund Holders: 115
Headquartered in Los Gatos, California, Netflix, Inc. (NASDAQ:NFLX) has become one of the most popular streaming services in the world, with over 208 million subscribers as of 2021. Netflix, Inc. (NASDAQ:NFLX) offers a wide range of content, including movies, television shows, documentaries, and original programming. In addition to its streaming service, Netflix, Inc. (NASDAQ:NFLX) also offers DVD rental by mail and has a distribution deal with cable and satellite television providers.
On November 15, 2022, Jessica Reif Ehrlich, an analyst at BofA, resumed coverage of Netflix, Inc. (NASDAQ:NFLX) with a price target of $370 and a Buy rating on the stock. According to the analyst, Netflix, Inc. (NASDAQ:NFLX) is a leading brand in a still-growing video-on-demand streaming sector. She believes that the company’s risk/reward is commendable, based on its solid path for subscriber growth outside of the United States and potential growth from video-on-demand advertising.
115 hedge funds were long on the company’s stock at the end of the third quarter, according to Insider Monkey’s database. Fisher Asset Management had the biggest long position in the company at the end of Q3 2022.
Artisan Partners made the following comment about Netflix, Inc. (NASDAQ:NFLX) in its Q3 2022 investor letter:
Netflix, Inc. (NASDAQ:NFLX) and Vertex Pharmaceuticals were two of our top contributors. Shares of Netflix got some relief after being under pressure in the first half of 2022. Media and entertainment stocks in general have been out of favor as investors grapple with the long-term economics of streaming services and slowing subscriber growth—what should be viewed as a normal feature of a maturing market. Our view is streaming is a scale and intellectual property business that will result in a few large winners, and we believe Netflix will be among this group. We initiated our position in Netflix in Q1 after shares fell by more than half due to concerns about subscriber growth and increasing competition from streaming upstarts. The stock then suffered a second down leg in April after the company reported subscriber losses for the first time in its history. Then in July, the company reported its second consecutive quarter of subscriber losses, but the nearly 1 million subscribers lost were much lower than the 2 million that management had forecast, and shares rallied on the news. For patient investors, there is reason for optimism that subscriber growth will turn around. The company has plans to crack down on password sharing and is launching a lower cost advertising supported tier. Our investment case is focused on an undemanding valuation, massive scale, a continued shift in time and attention from linear TV to streaming, and a financial condition which gives management the flexibility to operate unconstrained during a transition period for the business. We also believe Netflix can leverage its massive global scale of 200+ million subscribers into positive free cash flow through steady pricing increases and content spending controls.
3. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 140
Headquartered in Cupertino, California, Apple Inc. (NASDAQ:AAPL) designs and develops a wide range of consumer and professional technology products, including smartphones, tablets, laptops, desktop computers, smartwatches, and home automation products. Apple Inc. (NASDAQ:AAPL) is best known for its iPhone, which is one of the most popular smartphones in the world. The company also manufactures and sells a range of other products, including iPads, Macs, Apple Watch, and AirPods. Apple TV+ is a streaming subscription service owned by Apple Inc. (NASDAQ:AAPL).
On December 12, 2022, Martin Yang, an analyst at Oppenheimer, reduced his price target on Apple Inc. (NASDAQ:AAPL) to $170 while keeping an Outperform rating on the company’s stock. The analyst anticipates a quicker return of iPhone production in Zhengzhou and believes that the relaxation of China’s zero-Covid regulation will alleviate the production capacity restrictions heading into 2023
At the end of Q3 2022, 140 hedge funds in Insider Monkey’s database were long Apple Inc. (NASDAQ:AAPL). Berkshire Hathaway remained the leading stakeholder of the company at the end of Q3 2022.
2. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 196
Alphabet Inc. (NASDAQ:GOOGL) is one of the world’s largest and most successful technology conglomerate companies, with Google as its major holding company. Google’s search engine is the most widely used search engine in the world. The company also offers a range of other products and services, including email, cloud storage, maps, advertising, and hardware products. Google TV is a streaming platform that provides a range of tv shows and movies on smart TV and other streaming devices.
On November 30, 2022, James Lee, an analyst at Mizuho, reduced his price target on Alphabet Inc. (NASDAQ:GOOGL) to $135 while keeping a Buy rating on the stock. The analyst believes that the street is too optimistic about the stock, and Alphabet Inc. (NASDAQ:GOOGL) needs to announce a cost reduction plan in order to meet expectations.
As per Insider Monkey’s database, 196 hedge funds had stakes in Alphabet Inc. (NASDAQ:GOOGL) at the end of the third quarter.
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 269
Founded in 1994, Amazon.com, Inc. (NASDAQ:AMZN) is best known for its online marketplace, allowing customers to purchase a wide range of products from various merchants. The company also offers a range of other products and services, including streaming video and music, cloud storage, and home security. Amazon Prime is a paid subscription service offered by Amazon.com, Inc. (NASDAQ:AMZN) that provides users access to streaming of movies, TV shows, music, and other perks. The service is designed to make shopping on Amazon more convenient and rewarding for its customers.
On December 19, 2022, Mark Mahaney, an analyst at Evercore ISI, reduced his price target on Amazon.com, Inc. (NASDAQ:AMZN) to $150 while keeping an Outperform rating on the stock. The analyst’s estimates are below the market as the confidential data sources point toward weak demand for cloud computing and online shopping. However, the analyst still views Amazon.com, Inc. (NASDAQ:AMZN) as an attractive stock for long-term investors.
According to Insider Monkey’s database, 269 hedge funds owned stakes in the company at the end of the September quarter. Fisher Asset Management held the biggest stake in Amazon.com, Inc. (NASDAQ:AMZN) at the end of Q3 2022.
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