The Netflix logo is shown in this illustration photo in Encinitas, California.
Mike Blake | Reuters
Netflix’s stumble in the first quarter gave investors the opportunity to open positions in one of the best stocks in consumer technology, investment firm Stifel said in a statement to clients.
Netflix beat forecasts for earnings per share and revenue, but the 3.98 million subscriber gain was more than 2 million below what Wall Street expected, causing stocks to rise up to 11 in expanded trading % decreased.
However, Stifel improved the stock to buy from neutral, saying Netflix should have a rough subscriber quarter but long-term performance remains intact.