Under Armour (UA) - Get Under Armour, Inc. Class C Report was able to outperform Wall Street's expectations in spite of the company reporting a quarterly loss for the first time in its history, leading the market to reward the company with a 9% gain in trading Friday. 

Analysts at Baird believe that the day of trading is a sign that investors are lowering their expectations for the former growth stock. 

"We think the lowered Q2 bar probably de-risks the near-term outlook, setting up the planned 2H acceleration as a key proof point on whether UA can successfully shift its product/positioning," analysts wrote. "We are staying the course, and will seek opportunities (hopefully during 2H) to raise our conviction level."

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