GoPro’s (GPRO) Hold Rating Reiterated at Oppenheimer Holdings, Inc.
A number of other equities analysts have also recently issued reports on the stock. Vetr cut shares of GoPro from a strong-buy rating to a buy rating and set a $8.98 price objective for the company. in a research note on Wednesday, June 28th. J P Morgan Chase & Co reiterated a buy rating on shares of GoPro in a research report on Friday, August 4th. 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. Wedbush reissued a hold rating and issued a $9.00 target price on shares of GoPro in a research note on Thursday, June 1st. Finally, Cowen and Company reissued a hold rating and issued a $8.50 target price on shares of GoPro in a research note on Thursday, August 3rd. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $9.09.
Shares of GoPro (NASDAQ:GPRO) opened at 11.01 on Friday. The company’s 50-day moving average is $9.69 and its 200 day moving average is $8.68. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. The firm’s market cap is $1.49 billion.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, topping 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 firm 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) earnings per share. The business’s revenue was up 34.3% compared to the same quarter last year. On average, equities research analysts expect that GoPro will post $0.03 EPS for the current fiscal year.
In other news, Director Anthony John Bates sold 25,529 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $10.17, for a total transaction of $259,629.93. Following the transaction, the director now owns 116,482 shares of the company’s stock, valued at $1,184,621.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Charles J. Prober sold 24,918 shares of the company’s 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 transaction, the chief operating officer now directly owns 148,493 shares in the company, valued at approximately $1,633,423. The disclosure for this sale can be found here. Insiders sold a total of 51,344 shares of company stock valued at $542,205 over the last three months. Insiders own 28.58% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. increased its position in GoPro by 5.4% in the second quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock worth $112,000 after purchasing an additional 704 shares during the period. State Street Corp raised its holdings in GoPro by 6.7% during the 2nd quarter. State Street Corp now owns 1,914,069 shares of the company’s stock worth $15,563,000 after purchasing an additional 120,250 shares during the last quarter. Maverick Capital Ltd. bought a new stake in GoPro during the 2nd quarter worth about $589,000. ETF Managers Group LLC bought a new stake in GoPro during the 2nd quarter worth about $652,000. Finally, UBS Oconnor LLC acquired a new position in GoPro during the 2nd quarter valued at about $528,000. Hedge funds and other institutional investors own 24.37% 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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