The Netflix logo is shown in this illustration photograph in Encinitas, California.
Mike Blake | Reuters
The first-quarter stumble for Netflix has created an opportunity for investors to add positions in one of the best consumer technology stocks around, investment firm Stifel said in a note to clients.
Netflix beat projections for its earnings per share and revenue, but its subscriber additions of 3.98 million were more than 2 million below what Wall Street was looking for, sending shares down as much as 11% in extended trading.
However, Stifel upgraded the stock to buy from neutral, saying that Netflix was due to have a rough subscriber quarter but the long-term trajectory remains intact.
