GoPro Inc. (GPRO) Coverage Initiated at Bank of America Corp.
Investment analysts at Bank of America Corp. initiated coverage on shares of GoPro Inc. (NASDAQ:GPRO) in a research report issued on Friday. The brokerage set a “buy” rating and a $19.00 price target on the stock. Bank of America Corp.’s price objective would suggest a potential upside of 24.10% from the company’s previous close.
A number of other analysts also recently issued reports on GPRO. Dougherty & Co reaffirmed a “hold” rating on shares of GoPro in a report on Tuesday, May 24th. Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $6.50 price objective on shares of GoPro in a report on Wednesday, May 25th. Longbow Research started coverage on shares of GoPro in a report on Tuesday, June 14th. They set a “neutral” rating and a $11.88 price objective for the company. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $17.00 price objective on shares of GoPro in a report on Friday, June 17th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating and set a $43.00 price objective on shares of GoPro in a report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. GoPro presently has a consensus rating of “Hold” and a consensus price target of $15.33.
GoPro (NASDAQ:GPRO) opened at 15.31 on Friday. The stock’s 50 day moving average is $14.31 and its 200-day moving average is $12.17. The company’s market cap is $2.13 billion. GoPro has a 52-week low of $8.62 and a 52-week high of $35.00.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.06. GoPro had a negative net margin of 17.31% and a negative return on equity of 27.52%. The company earned $220.80 million during the quarter, compared to the consensus estimate of $194.37 million. During the same period in the previous year, the firm posted $0.35 EPS. The firm’s revenue was down 47.4% compared to the same quarter last year. Equities research analysts predict that GoPro will post ($1.06) EPS for the current fiscal year.
In related news, Director Edward A. Gilhuly sold 700,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $15.12, for a total transaction of $10,584,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anthony John Bates sold 9,704 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the transaction, the president now owns 398,137 shares in the company, valued at approximately $5,637,619.92. The disclosure for this sale can be found here. Corporate insiders own 28.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of GPRO. Advisor Group Inc. acquired a new stake in shares of GoPro during the second quarter worth approximately $100,000. Emerald Acquisition Ltd. acquired a new stake in shares of GoPro during the second quarter worth approximately $111,000. Penserra Capital Management LLC boosted its stake in shares of GoPro by 42.9% in the second quarter. Penserra Capital Management LLC now owns 10,533 shares of the company’s stock worth $114,000 after buying an additional 3,164 shares in the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of GoPro during the first quarter worth approximately $117,000. Finally, Marathon Trading Investment Management LLC boosted its stake in shares of GoPro by 114.1% in the first quarter. Marathon Trading Investment Management LLC now owns 10,000 shares of the company’s stock worth $120,000 after buying an additional 80,800 shares in the last quarter. Institutional investors own 28.46% of the company’s stock.
GoPro Company Profile
GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.
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