GoPro, Inc. (GPRO) Downgraded by BidaskClub
BidaskClub lowered shares of GoPro, Inc. (NASDAQ:GPRO) from a sell rating to a strong sell rating in a report published on Thursday morning.
GPRO has been the topic of a number of other research reports. ValuEngine upgraded shares of GoPro from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Vetr upgraded shares of GoPro from a buy rating to a strong-buy rating and set a $9.04 price target on the stock in a research report on Wednesday, July 5th. Stifel Nicolaus restated a hold rating and issued a $9.00 price target on shares of GoPro in a research report on Monday, April 17th. Bank of America Corporation restated an underperform rating and issued a $7.00 price target (down previously from $8.00) on shares of GoPro in a research report on Monday, June 5th. Finally, Dougherty & Co restated a sell rating and issued a $5.00 price target on shares of GoPro in a research report on Wednesday, July 5th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $8.20.
Shares of GoPro (NASDAQ GPRO) traded up 1.73% on Thursday, hitting $8.24. The company’s stock had a trading volume of 2,215,535 shares. GoPro has a 52 week low of $7.14 and a 52 week high of $17.68. The company’s market cap is $1.18 billion. The stock’s 50 day moving average is $8.08 and its 200-day moving average is $8.66.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Thursday, April 27th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.01. The firm had revenue of $218.61 million for the quarter, compared to the consensus estimate of $206.23 million. GoPro had a negative net margin of 34.63% and a negative return on equity of 49.75%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.63) EPS. On average, equities research analysts anticipate that GoPro will post ($0.16) earnings per share for the current year.
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In other GoPro news, Director Anthony John Bates sold 41,076 shares of GoPro stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $8.49, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.69% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. purchased a new position in GoPro during the first quarter worth about $113,000. Engineers Gate Manager LP purchased a new position in GoPro during the first quarter worth about $118,000. Financial Architects Inc increased its position in 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. Concourse Capital Management LLC purchased a new position in GoPro during the first quarter worth about $155,000. Finally, Raymond James Financial Services Advisors Inc. increased its position 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 worth $183,000 after buying an additional 695 shares in the last quarter. 25.31% of the stock is currently owned by hedge funds and other 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.
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