GoPro, Inc. (NASDAQ:GPRO) Given Consensus Recommendation of “Hold” by Brokerages
Shares of GoPro, Inc. (NASDAQ:GPRO) have been given an average recommendation of “Hold” by the twenty-six brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $7.92.
GPRO has been the topic of several recent analyst reports. Wedbush reissued a “hold” rating and issued a $9.00 target price on shares of GoPro in a research note on Thursday, June 1st. Dougherty & Co reissued a “sell” rating and issued a $5.00 target price on shares of GoPro in a research note on Tuesday, April 25th. Vetr cut shares of GoPro from a “strong-buy” rating to a “buy” rating and set a $8.98 price target on the stock. in a report on Wednesday, June 28th. Morgan Stanley upgraded shares of GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price target on the stock in a report on Monday, July 31st. They noted that the move was a valuation call. Finally, BidaskClub cut shares of GoPro from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th.
Shares of GoPro (GPRO) traded up 1.02% during midday trading on Friday, reaching $9.88. 4,592,811 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $8.37 and its 200-day moving average is $8.66. GoPro has a 12-month low of $7.14 and a 12-month high of $17.68. The stock’s market cap is $1.34 billion.
GoPro (NASDAQ:GPRO) last announced its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.20. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The business had revenue of $296.52 million for the quarter, compared to the consensus estimate of $268.94 million. During the same quarter in the prior year, the firm posted ($0.52) earnings per share. The business’s revenue for the quarter was up 34.3% on a year-over-year basis. On average, equities analysts expect that GoPro will post ($0.05) EPS for the current year.
In other GoPro news, Director Anthony John Bates sold 41,076 shares of the stock in a transaction dated 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 sale, the director now directly owns 142,011 shares of the company’s stock, valued at $1,205,673.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 28.69% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in GoPro during the fourth quarter valued at approximately $270,000. Norges Bank purchased a new stake in GoPro during the fourth quarter valued at approximately $492,000. Financial Architects Inc raised its stake in GoPro by 15.2% in the first quarter. Financial Architects Inc now owns 15,200 shares of the company’s stock valued at $132,000 after buying an additional 2,000 shares during the last quarter. MUFG Securities EMEA plc raised its stake in GoPro by 7,126.6% in the first quarter. MUFG Securities EMEA plc now owns 90,714 shares of the company’s stock valued at $789,000 after buying an additional 92,005 shares during the last quarter. Finally, Capital Fund Management S.A. raised 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 during the last quarter. 25.34% of the stock is owned by institutional investors and hedge funds.
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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