GoPro, Inc. (NASDAQ:GPRO) Rating Increased to Sell at BidaskClub

GoPro, Inc. (NASDAQ:GPRO) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday, June 27th.

Other analysts also recently issued research reports about the stock. Piper Jaffray Companies set a $8.00 target price on shares of GoPro and gave the company a “sell” rating in a report on Saturday, March 18th. J P Morgan Chase & Co set a $12.00 target price on shares of GoPro and gave the company a “buy” rating in a report on Sunday, April 30th. Zacks Investment Research downgraded shares of GoPro from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Bank of America Corporation reissued an “underperform” rating and set a $7.00 price objective (down previously from $8.00) on shares of GoPro in a report on Monday, June 5th. Finally, Citigroup Inc. raised shares of GoPro from a “sell” rating to a “neutral” rating and set a $9.00 price objective on the stock in a report on Thursday, March 16th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $8.28.

Shares of GoPro (GPRO) opened at 8.11 on Tuesday. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. The stock’s market capitalization is $1.17 billion. The stock’s 50 day moving average is $8.32 and its 200 day moving average is $8.78.

GoPro (NASDAQ:GPRO) last issued its earnings results on Thursday, April 27th. The company reported ($0.53) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.01. The business 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 business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.63) earnings per share. On average, equities analysts forecast that GoPro will post ($0.15) EPS for the current year.

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In related news, Director Anthony John Bates sold 41,076 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 142,011 shares of the company’s stock, valued at $1,205,673.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.69% of the company’s stock.

Institutional investors have recently modified their holdings of the company. First Eagle Investment Management LLC raised its position in shares of GoPro by 0.9% in the first quarter. First Eagle Investment Management LLC now owns 547,200 shares of the company’s stock valued at $4,761,000 after buying an additional 5,000 shares during the period. UBS Asset Management Americas Inc. increased its stake in GoPro by 33.6% in the first quarter. UBS Asset Management Americas Inc. now owns 52,076 shares of the company’s stock valued at $453,000 after buying an additional 13,106 shares in the last quarter. Swiss National Bank increased its stake in GoPro by 3.9% in the first quarter. Swiss National Bank now owns 145,600 shares of the company’s stock valued at $1,267,000 after buying an additional 5,500 shares in the last quarter. Bank of New York Mellon Corp increased its stake in GoPro by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 470,599 shares of the company’s stock valued at $4,095,000 after buying an additional 23,641 shares in the last quarter. Finally, Capital Fund Management S.A. increased its stake in GoPro by 12.8% in the first quarter. Capital Fund Management S.A. now owns 104,130 shares of the company’s stock valued at $906,000 after buying an additional 11,830 shares in the last quarter. 25.21% of the stock is owned by hedge funds and other institutional investors.

About GoPro

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.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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