The Netflix logo is shown in this illustrative photograph in Encinitas, California.
Mike Blake | Reuters
The first trimester stumbles for Netflix created an opportunity for investors to add positions in one of the best consumer tech stocks in the market, investment firm Stifel said in a note to clients.
Netflix beat expectations for both earnings per share and revenue, but its 3.98 million subscriber additions were more than 2 million below what Wall Street was looking for, sending shares up to 11% as part of extended trading.
However, Stifel has upgraded the stock to buy at a neutral price, saying Netflix is set to have a tough subscriber quarter, but the long-term trajectory remains intact.