Vetr Inc. Downgrades GoPro, Inc. (GPRO) to Hold

GoPro, Inc. (NASDAQ:GPRO) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, July 24th. They presently have a $8.09 price objective on the stock. Vetr‘s price objective would indicate a potential downside of 10.61% from the company’s previous close.

Several other brokerages have also weighed in on GPRO. Stifel Nicolaus restated a “hold” rating and issued a $9.00 price objective on shares of GoPro in a report on Saturday, April 29th. Dougherty & Co restated a “sell” rating and issued a $5.00 price objective on shares of GoPro in a report on Tuesday, April 25th. ValuEngine upgraded GoPro from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research lowered GoPro from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, Bank of America Corporation restated an “underperform” rating and issued a $7.00 price objective (down previously from $8.00) on shares of GoPro in a report on Monday, June 5th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have assigned a buy rating to the company’s stock. GoPro presently has a consensus rating of “Hold” and a consensus target price of $8.47.

GoPro (GPRO) opened at 9.05 on Monday. The stock’s market cap is $1.23 billion. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. The company has a 50-day moving average of $8.63 and a 200 day moving average of $8.64.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.20. GoPro had a negative return on equity of 41.52% and a negative net margin of 27.88%. The company had revenue of $296.52 million during the quarter, compared to analyst estimates of $268.94 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. The firm’s quarterly revenue was up 34.3% on a year-over-year basis. Analysts predict that GoPro will post ($0.05) EPS for the current year.

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In other GoPro news, Director Anthony John Bates sold 41,076 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total value of $348,735.24. Following the transaction, the director now directly owns 142,011 shares of the company’s stock, valued at approximately $1,205,673.39. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 28.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in GoPro by 3.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock valued at $183,000 after buying an additional 695 shares during the period. Nomura Holdings Inc. increased its stake in GoPro by 5.4% in the second quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after buying an additional 704 shares during the period. Legal & General Group Plc increased its stake in GoPro by 2.3% in the second quarter. Legal & General Group Plc now owns 34,526 shares of the company’s stock valued at $281,000 after buying an additional 763 shares during the period. Stifel Financial Corp increased its stake in GoPro by 1.4% in the second quarter. Stifel Financial Corp now owns 59,343 shares of the company’s stock valued at $482,000 after buying an additional 813 shares during the period. Finally, Nationwide Fund Advisors increased its stake in GoPro by 0.8% in the second quarter. Nationwide Fund Advisors now owns 111,160 shares of the company’s stock valued at $904,000 after buying an additional 900 shares during the period. 25.12% of the stock is currently owned by institutional investors.

GoPro Company Profile

GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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