GoPro Inc. (NASDAQ:GPRO)‘s stock had its “neutral” rating reaffirmed by Goldman Sachs Group Inc. in a note issued to investors on Thursday. They currently have a $14.00 price target on the stock, up from their prior price target of $12.50. Goldman Sachs Group Inc.’s price target would suggest a potential downside of 18.37% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Dougherty & Co reaffirmed a “hold” rating on shares of GoPro in a research report on Tuesday, September 20th. Piper Jaffray Cos. set a $9.00 price objective on shares of GoPro and gave the company a “sell” rating in a research report on Wednesday, September 21st. Wedbush boosted their price objective on shares of GoPro from $14.50 to $17.50 and gave the company an “outperform” rating in a research report on Tuesday, September 20th. FBN Securities set a $15.00 price objective on shares of GoPro and gave the company a “hold” rating in a research report on Monday, September 19th. Finally, Bank of America Corp. began coverage on shares of GoPro in a research report on Friday, September 16th. They set a “buy” rating and a $19.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.78.
Shares of GoPro (NASDAQ:GPRO) opened at 17.15 on Thursday. The stock’s 50 day moving average is $14.60 and its 200-day moving average is $12.24. GoPro has a 52-week low of $8.62 and a 52-week high of $32.15. The firm’s market capitalization is $2.39 billion.
GoPro (NASDAQ:GPRO) last issued its earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.06. The business had revenue of $220.80 million for the quarter, compared to analyst estimates of $194.37 million. GoPro had a negative net margin of 17.31% and a negative return on equity of 27.52%. The company’s revenue for the quarter was down 47.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS. On average, equities analysts forecast that GoPro will post ($1.07) earnings per share for the current fiscal year.
In related news, Director Michael E. Marks sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $15.58, for a total value of $623,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anthony John Bates sold 9,704 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the completion of the sale, 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. 28.69% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of GPRO. IFP Advisors Inc increased its stake in shares of GoPro by 20.2% in the second quarter. IFP Advisors Inc now owns 21,721 shares of the company’s stock valued at $235,000 after buying an additional 3,646 shares during the period. Schwab Charles Investment Management Inc. raised its position in GoPro by 152.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 288,321 shares of the company’s stock valued at $3,117,000 after buying an additional 173,950 shares in the last quarter. Amalgamated Bank raised its position in GoPro by 4.6% in the second quarter. Amalgamated Bank now owns 11,030 shares of the company’s stock valued at $154,000 after buying an additional 482 shares in the last quarter. Legal & General Group Plc raised its position in GoPro by 273.6% in the second quarter. Legal & General Group Plc now owns 25,585 shares of the company’s stock valued at $271,000 after buying an additional 18,736 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in GoPro by 1,004.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 73,859 shares of the company’s stock valued at $798,000 after buying an additional 67,171 shares in the last quarter. Institutional investors and hedge funds 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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