Why has Netflix, Inc. (NASDAQ:NFLX) stock soared 75% in just three months? “Growth, along with a tectonic shift in how Americans watch TV,” Jim Cramer said on his “Mad Money” TV show.  He told viewers that’s why Netflix, a stock he recommended on July 26, was able to power 62% higher, and that’s why its only the beginning.

Cramer said the bears (short sellers) and just about every Wall Street analyst who cover this company, just don’t get it. He mentioned that these guys just don’t recognize the future of streaming video, they see only the DVD-by-mail company. The completely overlook the fact that Netflix now delivers its vast library of movies through the Nintendo Wii, Sony Corporation (ADR)(NYSE:SNE) Playstation 3, Microsoft Corporation (NASDAQ:MSFT) Xbox and Apple Inc. (NASDAQ:AAPL) TV and iPad.

Cramer pointed out that Netflix is now available on over 100 different devices. The company has even officially changed its mission statement in a recent press release to define itself as as streaming video company that also offers DVDs by mail. “This is a tectonic shift in the way we watch TV and movies. It is a rebellion against the high prices of cable and the need to watch on their schedule, one that bypasses entirely the need to go anywhere and pick up a DVD,” Cramer said.

With subscriber growth up a whopping 52% year-over-year, and 13% from just last quarter, Cramer said the potential for Netflix is huge. Combine that with the fact that subscriber acquisition costs were lower, and Cramer said it’s clear Netflix is benefiting from more than just the demise of brick-and-mortar video chains.

“Netflix trades at 44 times earnings, but has a 30% growth rate,” Cramer said. As a hedge-fund manger, Cramer told viewers he would have been willing to pay up to 60 times earnings for NFLX.

“And that’s not even accounting for the fact,” he said, “that the estimates are probably way, way, way too low given the strength of Netflix’s business.” Get the scoop on tomorrow’s hottest trade ideas – TODAY! BeaconEquity.com PREMIER PICKS have an amazing track record. Join this select group and ride the profit wave!