GoPro, Inc. (GPRO) Upgraded at Longbow Research
Longbow Research upgraded shares of GoPro, Inc. (NASDAQ:GPRO) from a neutral rating to a buy rating in a research report released on Wednesday, MarketBeat Ratings reports. They currently have $13.00 price target on the stock, up from their prior price target of $9.60. The analysts noted that the move was a valuation call.
A number of other analysts also recently issued reports on GPRO. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of GoPro in a research note on Friday, September 29th. BidaskClub raised GoPro from a sell rating to a hold rating in a research note on Wednesday, August 9th. Raymond James Financial, Inc. raised GoPro from an underperform rating to a market perform rating in a research note on Friday, August 4th. Goldman Sachs Group Inc raised GoPro from a sell rating to a neutral rating and raised their target price for the stock from $6.75 to $10.00 in a research note on Tuesday, August 15th. Finally, Cowen and Company reaffirmed a hold rating and issued a $8.50 target price on shares of GoPro in a research note on Thursday, August 3rd. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $9.59.
GoPro (GPRO) traded up 2.93% on Wednesday, reaching $9.48. 4,450,273 shares of the company’s stock traded hands. The stock’s market capitalization is $1.29 billion. The firm has a 50-day moving average price of $10.32 and a 200-day moving average price of $9.01. GoPro has a 52 week low of $7.14 and a 52 week high of $14.75.
GoPro (NASDAQ:GPRO) last issued its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.20. GoPro had a negative return on equity of 41.52% and a negative net margin of 27.88%. The business had revenue of $296.52 million during the quarter, compared to the consensus estimate of $268.94 million. During the same period last year, the company earned ($0.52) EPS. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. On average, analysts predict that GoPro will post $0.04 earnings per share for the current year.
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In other news, Director Anthony John Bates sold 25,529 shares of GoPro stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $10.17, for a total value of $259,629.93. Following the completion of the transaction, the director now owns 116,482 shares in the company, valued at approximately $1,184,621.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Charles J. Prober sold 24,918 shares of GoPro stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $11.00, for a total value of $274,098.00. Following the completion of the transaction, the chief operating officer now owns 148,493 shares of the company’s stock, valued at approximately $1,633,423. The disclosure for this sale can be found here. Insiders sold a total of 51,344 shares of company stock valued at $542,205 in the last quarter. Company insiders own 28.58% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Invictus RG purchased a new position in shares of GoPro in the 1st quarter valued at about $195,000. Swiss National Bank boosted its stake in shares of GoPro by 3.9% in the 1st 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 during the period. JPMorgan Chase & Co. boosted its stake in shares of GoPro by 2.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 573,002 shares of the company’s stock valued at $4,658,000 after buying an additional 12,530 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of GoPro by 5.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 455,706 shares of the company’s stock valued at $3,965,000 after buying an additional 23,697 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of GoPro by 3.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock valued at $183,000 after buying an additional 695 shares during the period. Institutional investors and hedge funds own 24.37% of the company’s stock.
GoPro Company Profile
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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