Streaming service Netflix garnered 16 film nominations (mostly for "Emilia Pérez"), more than any other studio or streamer. But Universal Pictures and its Focus Features sister unit weren't far behind.

The Netflix movie musical “Emilia Perez” led the Academy Award nominations on Thursday, giving the streaming service another shot at its first best-picture trophy, followed by historical drama “The Brutalist” and box-office smash “Wicked.

Heger, meanwhile, thinks Netflix can find the right balance. The stock is currently up 10% after the company beat the Street's expectations for the top and bottom lines in Q4, punctuated by Netflix announcing that its total number of subscribers had surged past 300 million.

How long can Netflix’s stock stay hot? With sports and advertising both cooking, one formerly neutral analyst now sees recent business momentum continuing for years.