Zacks Research Upgrades GoPro (NASDAQ:GPRO) to Hold

GoPro (NASDAQ:GPRO) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings raised shares of GoPro from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. Wall Street Zen raised GoPro from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 23rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

GoPro Stock Performance

Shares of GoPro stock opened at $1.18 on Monday. The business’s 50 day simple moving average is $1.08 and its 200 day simple moving average is $0.98. GoPro has a 52-week low of $0.57 and a 52-week high of $2.73. The firm has a market cap of $217.71 million, a PE ratio of -1.19 and a beta of 2.43.

GoPro (NASDAQ:GPRO) last released its earnings results on Monday, August 10th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.23). GoPro had a negative net margin of 28.52% and a negative return on equity of 411.41%. The firm had revenue of $104.93 million during the quarter, compared to the consensus estimate of $151.47 million. As a group, equities research analysts predict that GoPro will post -0.81 EPS for the current year.

Institutional Investors Weigh In On GoPro

A number of institutional investors and hedge funds have recently modified their holdings of GPRO. Public Employees Retirement System of Ohio increased its position in GoPro by 10.6% during the first quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company’s stock worth $115,000 after buying an additional 14,324 shares during the last quarter. R Squared Ltd lifted its position in shares of GoPro by 49.4% in the first quarter. R Squared Ltd now owns 97,067 shares of the company’s stock valued at $75,000 after buying an additional 32,113 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of GoPro by 27.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 162,535 shares of the company’s stock worth $125,000 after acquiring an additional 34,961 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of GoPro by 615.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 92,665 shares of the company’s stock worth $131,000 after acquiring an additional 79,706 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of GoPro by 59.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company’s stock worth $205,000 after acquiring an additional 99,100 shares during the last quarter. 70.09% of the stock is owned by institutional investors.

GoPro Company Profile

GoPro, Inc develops and sells compact cameras and related products designed to capture immersive photos and video during travel, sports, outdoor recreation and everyday activities. Its product portfolio includes HERO action cameras, MAX 360-degree cameras, camera accessories, mounts and other equipment used by consumers, creators and professionals.

The company also provides software and digital services that support content capture, editing, storage and sharing. Its Quik mobile and desktop applications are designed to help users organize and edit footage, while GoPro subscription offerings provide features such as cloud storage, automatic uploads, editing tools, camera replacement benefits and discounts on products and accessories.

Founded in 2002 by Nicholas Woodman, GoPro grew from a wrist-mounted camera concept into a global action-camera brand.