GoPro (GPRO) Upgraded to “Outperform” at UBS Group

UBS Group upgraded shares of GoPro (NASDAQ:GPRO) from a market perform rating to an outperform rating in a research note released on Wednesday morning, The Fly reports.

A number of other analysts have also recently commented on the stock. ValuEngine cut shares of GoPro from a sell rating to a strong sell rating in a research report on Monday, July 30th. Wedbush reaffirmed a neutral rating and set a $6.00 price target on shares of GoPro in a research report on Friday, July 27th. Cowen reaffirmed a hold rating and set a $6.00 price target on shares of GoPro in a research report on Friday, August 3rd. JPMorgan Chase & Co. set a $7.00 price target on shares of GoPro and gave the company a hold rating in a research report on Tuesday, July 31st. Finally, BidaskClub lowered shares of GoPro from a strong-buy rating to a buy rating in a report on Thursday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $7.50.

GPRO traded up $0.27 during trading on Wednesday, reaching $7.19. 413,265 shares of the stock traded hands, compared to its average volume of 2,354,881. The company has a current ratio of 1.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $980.53 million, a P/E ratio of -6.77 and a beta of 0.23. GoPro has a 12 month low of $4.42 and a 12 month high of $11.89.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Thursday, August 2nd. The company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.07. The business had revenue of $282.70 million for the quarter, compared to analysts’ expectations of $270.27 million. GoPro had a negative net margin of 13.47% and a negative return on equity of 47.64%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. research analysts predict that GoPro will post -0.54 EPS for the current fiscal year.

In other news, CFO Brian Mcgee sold 5,452 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $5.86, for a total transaction of $31,948.72. Following the transaction, the chief financial officer now owns 108,411 shares in the company, valued at $635,288.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.61% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp raised its holdings in shares of GoPro by 5.4% during the second quarter. Northern Trust Corp now owns 1,384,607 shares of the company’s stock valued at $8,917,000 after purchasing an additional 70,968 shares during the period. Millennium Management LLC raised its holdings in shares of GoPro by 1,161.4% in the 2nd quarter. Millennium Management LLC now owns 181,619 shares of the company’s stock worth $1,170,000 after acquiring an additional 167,221 shares during the last quarter. MetLife Investment Advisors LLC raised its holdings in shares of GoPro by 71.1% in the 2nd quarter. MetLife Investment Advisors LLC now owns 53,260 shares of the company’s stock worth $343,000 after acquiring an additional 22,137 shares during the last quarter. BB&T Securities LLC acquired a new stake in shares of GoPro in the 2nd quarter worth about $233,000. Finally, Renaissance Technologies LLC raised its holdings in shares of GoPro by 478.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,496,600 shares of the company’s stock worth $28,958,000 after acquiring an additional 3,719,700 shares during the last quarter. Hedge funds and other institutional investors own 30.88% of the company’s stock.

About GoPro

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

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