Baird reiterated its neutral rating on Netflix shares citing the firm's consumer survey, which showed the video streaming company will likely miss its subscriber forecast for the first quarter.
"Our quarterly U.S. subscriber survey suggests potentially weak Q1 U.S. results, though we acknowledge strong international results, which is the bigger current investor focus, may trump U.S. weakness. However, with expectations for a strong overall quarter already high, we'd still be cautious into Q1 results," analyst William Power wrote in a note to clients Monday. "Although Netflix released far more original programming than the prior year, the lack of a blockbuster hit may have contributed to this quarter's soft survey results."
Netflix is scheduled to announce first-quarter financial results on April 17.