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The Ratings Game: Netflix stock swings higher as analysts take a bullish tone despite downbeat guidance

Netflix Inc. shares moved higher in premarket trade Wednesday, as analysts weighing in on its first-quarter earnings struck a mostly bullish tone.

The stock NFLX, -0.12% initially took a dive in after-hours trade Tuesday, falling as much as 5.9%, after the company reported a record number of paying subscribers in the first quarter, but offered guidance for the second quarter that was below expectations.

Ahead of Wednesday’s open, the stock reversed course to surge 3.3%.

JPMorgan analysts led by Doug Anmuth said while some were likely disappointed by the guidance, “we think there’s much more to like here than not.

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