Jim Cramer Says Netflix Is 'Just a Buy'

DanKuhn14

Streamed a show or 10?

Netflix (NFLX) - Get Report has been on many investors’ minds since social distancing forced many to buckle down and seek entertainment at home earlier in March.

While Netflix is no stranger to competition, including Amazon, Disney+ and Hulu, the streaming service has been a savior to many of those practicing social distancing. Since mid-April, the stock has traded at or near all-time highs, traded at $438.70 as of the open Monday.

Netflix saw massive success following the launch of ‘Tiger King,” a docuseries following Joe Exotic, the battle over the ownership of exotic cats in the U.S. and an alleged attempt to murder an animal rights activist.

Despite the show’s undeniable success, not all analysts are convinced. Benchmark analyst Matthew Harrigan recently downgraded the stock to a sell rating, calling the uptick in Netflix’s stock price excessive. "Our cautious view is based on our belief that the shares already reflect a 'lazy long' halo from the perception of a Covid-19 safe haven," Harrigan wrote.

Investors can expect more insight on just how well Netflix is performing when the streaming service reports earnings Tuesday, April 21. Netflix is expected to report adjusted earnings per share of $1.61 on revenue of $5.70 billion. Subscriber trends, competition and Netflix’s slate of upcoming content is expected to be in full focus.

So how should you be approach Netflix heading into earnings and what else do you need on your radar?

TheStreet founder and ActionAlertsPLUS portfolio manager Jim Cramer breaks down what to watch in the video above. 

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