According to Zacks, “GoPro recently unveiled its first drone – Karma, and also launched the first significant update to its flagship line of action cameras in two years — the new Hero5 camera, and the smaller, cube-shaped Hero5 Session. We believe that the interesting product lineup will boost revenues for the company. GoPro is making strategic investments in talent, technology, software and innovative products for quite some time now. The company has done a great job of clearing out channel inventory and streamlining its product portfolio. However, GoPro has had a dismal earnings history, having missed earnings thrice in the trailing four quarters. The mispricing of its Hero4 Session, slowing demand for its Hero gadgets and rising operating expenses drove quarterly losses. Stiff competition and ongoing sluggishness in the wearable camera market indicate challenging times ahead for GoPro.”
A number of other research analysts also recently issued reports on the stock. Bank of America Corp. restated a buy rating and issued a $19.00 price target on shares of GoPro in a research report on Wednesday, September 28th. BlueFin Research restated an add rating on shares of GoPro in a research report on Monday, September 26th. Oppenheimer Holdings Inc. restated a market perform rating on shares of GoPro in a research report on Friday, September 23rd. Robert W. Baird restated a neutral rating and issued a $10.00 price target on shares of GoPro in a research report on Thursday, September 22nd. Finally, Goldman Sachs Group Inc. restated a neutral rating and issued a $14.00 price target (up previously from $12.50) on shares of GoPro in a research report on Thursday, September 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $15.94.
GoPro (NASDAQ:GPRO) opened at 16.79 on Monday. The company’s market cap is $2.34 billion. The company has a 50-day moving average of $15.17 and a 200-day moving average of $12.53. GoPro has a 52-week low of $8.62 and a 52-week high of $31.33.
GoPro (NASDAQ:GPRO) last posted its earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.06. GoPro had a negative net margin of 17.31% and a negative return on equity of 27.52%. The firm had revenue of $220.80 million for the quarter, compared to analyst estimates of $194.37 million. During the same period in the previous year, the firm posted $0.35 EPS. The company’s revenue for the quarter was down 47.4% compared to the same quarter last year. On average, equities research analysts expect that GoPro will post ($1.07) earnings per share for the current fiscal year.
In related news, Director Edward A. Gilhuly sold 700,000 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $15.12, for a total transaction of $10,584,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anthony John Bates sold 9,704 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the transaction, the president now owns 398,137 shares of the company’s stock, valued at approximately $5,637,619.92. The disclosure for this sale can be found here. Corporate insiders own 28.69% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GPRO. BlueMountain Capital Management LLC bought a new position in GoPro during the first quarter valued at $117,000. Seven Eight Capital LLC raised its position in GoPro by 3,754.5% in the first quarter. Seven Eight Capital LLC now owns 11,101 shares of the company’s stock valued at $133,000 after buying an additional 10,813 shares during the last quarter. Marathon Trading Investment Management LLC raised its position in GoPro by 114.1% in the first quarter. Marathon Trading Investment Management LLC now owns 10,000 shares of the company’s stock valued at $120,000 after buying an additional 80,800 shares during the last quarter. HBK Investments L P bought a new position in GoPro during the first quarter valued at $357,000. Finally, Riverhead Capital Management LLC bought a new position in GoPro during the first quarter valued at $1,220,000. Institutional investors own 28.46% of the company’s stock.
GoPro Company Profile
GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.
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