Wedbush Reaffirms “Neutral” Rating for GoPro, Inc. (GPRO)
GoPro, Inc. (NASDAQ:GPRO)‘s stock had its “neutral” rating reiterated by equities research analysts at Wedbush in a report released on Friday. They currently have a $10.00 price objective on the stock, down from their prior price objective of $11.48. Wedbush’s price objective points to a potential downside of 9.17% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Vetr lowered GoPro from a “buy” rating to a “hold” rating and set a $11.84 price target on the stock. in a research report on Monday, September 18th. ValuEngine upgraded GoPro from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. BidaskClub raised GoPro from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of GoPro in a research note on Wednesday, August 9th. Finally, Bank of America Corporation restated an “underperform” rating and set a $7.00 target price (down 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, sixteen have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $9.21.
GoPro (GPRO) traded up 0.54% during mid-day trading on Friday, hitting $11.07. The stock had a trading volume of 3,876,990 shares. The company’s market cap is $1.50 billion. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. The company has a 50-day moving average price of $9.69 and a 200 day moving average price of $8.68.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.20. The company had revenue of $296.52 million for the quarter, compared to analysts’ expectations of $268.94 million. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The business’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.52) earnings per share. Equities research analysts forecast that GoPro will post $0.03 EPS for the current fiscal year.
In other GoPro news, Director Anthony John Bates sold 25,529 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 116,482 shares of the company’s stock, valued at approximately $1,184,621.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Charles J. Prober sold 24,918 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was 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 directly owns 148,493 shares of the company’s stock, valued at $1,633,423. The disclosure for this sale can be found here. Insiders have sold 51,344 shares of company stock valued at $542,205 over the last quarter. Corporate insiders own 28.58% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of GoPro by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock worth $57,672,000 after buying an additional 444,109 shares during the last quarter. State Street Corp grew its position in shares of GoPro by 6.7% during the 2nd quarter. State Street Corp now owns 1,914,069 shares of the company’s stock valued at $15,563,000 after acquiring an additional 120,250 shares during the period. Geode Capital Management LLC grew its position in shares of GoPro by 9.6% during the 1st quarter. Geode Capital Management LLC now owns 804,345 shares of the company’s stock valued at $6,997,000 after acquiring an additional 70,449 shares during the period. JPMorgan Chase & Co. grew its position in shares of GoPro by 2.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 573,002 shares of the company’s stock valued at $4,658,000 after acquiring an additional 12,530 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of GoPro by 22.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 556,863 shares of the company’s stock valued at $4,528,000 after acquiring an additional 101,157 shares during the period. Institutional investors own 24.37% of the company’s stock.
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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