Citigroup Inc. Cuts GoPro, Inc. (GPRO) Price Target to $10.00
GoPro, Inc. (NASDAQ:GPRO) had its target price trimmed by Citigroup Inc. from $11.00 to $10.00 in a research report sent to investors on Thursday. The brokerage currently has a neutral rating on the stock.
GPRO has been the topic of a number of other research reports. Vetr lowered GoPro from a buy rating to a hold rating and set a $11.84 target price on the stock. in a research note on Monday, September 18th. BidaskClub raised GoPro from a strong sell rating to a sell rating in a research note on Thursday, August 3rd. Wedbush reaffirmed a neutral rating on shares of GoPro in a research note on Thursday, October 26th. Oppenheimer Holdings, Inc. reaffirmed a market perform rating on shares of GoPro in a research note on Wednesday, August 9th. Finally, Dougherty & Co reaffirmed a sell rating and issued a $5.00 target price on shares of GoPro in a research note on Wednesday, July 5th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $9.68.
GoPro (NASDAQ GPRO) traded down $0.45 during mid-day trading on Thursday, reaching $9.13. The company had a trading volume of 7,997,088 shares, compared to its average volume of 6,770,824. GoPro has a 12-month low of $7.14 and a 12-month high of $12.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.66.
GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.20. GoPro had a negative return on equity of 15.53% and a negative net margin of 17.52%. The firm had revenue of $296.52 million for the quarter, compared to analyst estimates of $268.94 million. During the same quarter in the prior year, the company earned ($0.52) EPS. GoPro’s revenue was up 34.3% on a year-over-year basis. analysts expect that GoPro will post -0.32 earnings per share for the current year.
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In related news, Director Anthony John Bates sold 25,529 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $10.17, for a total value of $259,629.93. Following the completion of the sale, the director now directly owns 116,482 shares in the company, valued at approximately $1,184,621.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Charles J. Prober sold 24,918 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $11.00, for a total value of $274,098.00. Following the completion of the sale, the chief operating officer now owns 148,493 shares of the company’s stock, valued at $1,633,423. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,344 shares of company stock valued at $542,205. 28.58% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GPRO. Vanguard Group Inc. increased its holdings in GoPro by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock valued at $57,672,000 after purchasing an additional 444,109 shares in the last quarter. Capital Fund Management S.A. increased its holdings in GoPro by 338.7% in the 2nd quarter. Capital Fund Management S.A. now owns 456,870 shares of the company’s stock valued at $3,714,000 after purchasing an additional 352,740 shares in the last quarter. Wells Fargo & Company MN increased its holdings in GoPro by 266.1% in the 2nd quarter. Wells Fargo & Company MN now owns 292,349 shares of the company’s stock valued at $2,376,000 after purchasing an additional 212,486 shares in the last quarter. Engineers Gate Manager LP increased its holdings in GoPro by 1,324.2% in the 2nd quarter. Engineers Gate Manager LP now owns 193,688 shares of the company’s stock valued at $1,575,000 after purchasing an additional 180,088 shares in the last quarter. Finally, State Street Corp increased its holdings in GoPro by 6.7% in the 2nd quarter. State Street Corp now owns 1,914,069 shares of the company’s stock valued at $15,563,000 after purchasing an additional 120,250 shares in the last quarter. Hedge funds and other institutional investors own 24.26% of the company’s stock.
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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