GoPro, Inc. (GPRO) Rating Reiterated by Wedbush

GoPro, Inc. (NASDAQ:GPRO)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a report issued on Friday, July 28th.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley upgraded shares of GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 target price on the stock in a research report on Monday, July 31st. They noted that the move was a valuation call. BidaskClub downgraded shares of GoPro from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Vetr downgraded shares of GoPro from a “strong-buy” rating to a “hold” rating and set a $8.09 price objective on the stock. in a report on Monday, July 24th. Dougherty & Co restated a “sell” rating and set a $5.00 price objective on shares of GoPro in a report on Wednesday, July 5th. Finally, Bank of America Corporation restated an “underperform” rating and set a $7.00 price objective (down previously from $8.00) on shares of GoPro in a report on Monday, June 5th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have issued a buy rating to the company. GoPro currently has an average rating of “Hold” and an average price target of $8.47.

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

GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.20. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The company had revenue of $296.52 million for the quarter, compared to the consensus estimate of $268.94 million. During the same quarter in the previous year, the company earned ($0.52) EPS. GoPro’s quarterly revenue was up 34.3% compared to the same quarter last year. On average, equities research analysts predict that GoPro will post ($0.05) earnings per share for the current fiscal year.

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In related news, Director Anthony John Bates sold 41,076 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $8.49, for a total value of $348,735.24. Following the sale, the director now directly owns 142,011 shares of the company’s stock, valued at $1,205,673.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 28.69% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of GoPro during the fourth quarter worth $270,000. State Street Corp increased its stake in shares of GoPro by 5.1% in the fourth quarter. State Street Corp now owns 1,738,421 shares of the company’s stock worth $15,142,000 after buying an additional 84,601 shares in the last quarter. Invictus RG bought a new stake in shares of GoPro during the first quarter worth $195,000. Financial Architects Inc increased its stake in shares of GoPro by 15.2% in the first quarter. Financial Architects Inc now owns 15,200 shares of the company’s stock worth $132,000 after buying an additional 2,000 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of GoPro by 3.9% in the first quarter. Swiss National Bank now owns 145,600 shares of the company’s stock worth $1,267,000 after buying an additional 5,500 shares in the last quarter. 25.12% of the stock is currently owned by institutional investors and hedge funds.

About GoPro

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.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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