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.
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.
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