GoPro’s (GPRO) Neutral Rating Reaffirmed at Robert W. Baird
A number of other equities analysts have also recently weighed in on GPRO. Piper Jaffray Cos. restated an underweight rating and set a $6.50 price objective on shares of GoPro in a research report on Wednesday, May 25th. Dougherty & Co restated a neutral rating on shares of GoPro in a research report on Wednesday, August 10th. Vetr upgraded shares of GoPro from a buy rating to a strong-buy rating and set a $16.34 price objective for the company in a research report on Monday, August 8th. Goldman Sachs Group Inc. restated a neutral rating and set a $11.00 price objective on shares of GoPro in a research report on Tuesday, July 26th. Finally, Barclays PLC restated an equal weight rating and set a $12.00 price objective on shares of GoPro in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. GoPro has an average rating of Hold and a consensus target price of $15.78.
GoPro (NASDAQ:GPRO) opened at 16.05 on Thursday. The company’s 50 day moving average is $14.49 and its 200-day moving average is $12.22. The stock’s market capitalization is $2.24 billion. GoPro has a 1-year low of $8.62 and a 1-year high of $35.00.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $220.80 million for the quarter, compared to the consensus estimate of $194.37 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The firm’s quarterly revenue was down 47.4% compared to the same quarter last year. Analysts forecast that GoPro will post ($1.07) earnings per share for the current fiscal year.
In other GoPro news, Director Michael E. Marks sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $15.58, for a total transaction of $623,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Anthony John Bates sold 9,704 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $14.16, for a total transaction of $137,408.64. Following the sale, the president now directly owns 398,137 shares in the company, valued at approximately $5,637,619.92. The disclosure for this sale can be found here. 28.69% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC acquired a new position in shares of GoPro during the first quarter worth approximately $1,220,000. Sanders Morris Harris Inc. boosted its position in shares of GoPro by 71.4% in the second quarter. Sanders Morris Harris Inc. now owns 40,800 shares of the company’s stock worth $441,000 after buying an additional 17,000 shares during the last quarter. HBK Investments L P acquired a new position in shares of GoPro during the first quarter worth approximately $357,000. Seven Eight Capital LLC boosted its position in shares of GoPro by 3,754.5% in the first quarter. Seven Eight Capital LLC now owns 11,101 shares of the company’s stock worth $133,000 after buying an additional 10,813 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of GoPro during the fourth quarter worth approximately $10,583,000. 28.46% of the stock is currently owned by institutional investors.
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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