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.
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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