GoPro (NASDAQ:GPRO) Issues FY 2021 Earnings Guidance

GoPro (NASDAQ:GPRO) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $0.800-$0.860 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.740. The company issued revenue guidance of $1.15 billion-$1.16 billion, compared to the consensus revenue estimate of $1.15 billion.GoPro also updated its Q4 2021 guidance to $0.320-$0.380 EPS.

A number of analysts recently commented on the company. Morgan Stanley raised GoPro from an underweight rating to an equal weight rating and increased their price objective for the company from $9.80 to $11.00 in a research note on Thursday, November 11th. Wedbush reiterated a hold rating and set a $12.00 target price on shares of GoPro in a research report on Friday, August 6th. Finally, JPMorgan Chase & Co. upgraded GoPro from a neutral rating to an overweight rating and increased their target price for the stock from $13.00 to $15.00 in a research report on Thursday, November 18th.

NASDAQ GPRO traded down $0.15 during trading hours on Thursday, hitting $10.49. 2,457,441 shares of the company’s stock were exchanged, compared to its average volume of 4,099,744. The business’s 50 day moving average is $9.57 and its 200-day moving average is $10.23. GoPro has a 12-month low of $6.61 and a 12-month high of $13.79. The firm has a market capitalization of $1.64 billion, a P/E ratio of 4.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.32 and a current ratio of 1.63.

GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, November 4th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.14. The firm had revenue of $316.70 million for the quarter, compared to the consensus estimate of $292.09 million. GoPro had a return on equity of 36.23% and a net margin of 32.19%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. As a group, equities research analysts anticipate that GoPro will post 0.6 EPS for the current fiscal year.

In other news, SVP S Aimee Lapic sold 4,836 shares of the firm’s stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $9.33, for a total value of $45,119.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas Woodman sold 200,000 shares of the firm’s stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $8.90, for a total value of $1,780,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 414,509 shares of company stock worth $3,866,383. Company insiders own 20.32% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC purchased a new stake in shares of GoPro during the 3rd quarter valued at about $110,000. UBS Group AG grew its stake in GoPro by 2.7% during the 3rd quarter. UBS Group AG now owns 160,911 shares of the company’s stock valued at $1,506,000 after purchasing an additional 4,207 shares in the last quarter. Finally, Morgan Stanley grew its stake in GoPro by 16.7% during the 2nd quarter. Morgan Stanley now owns 1,668,763 shares of the company’s stock valued at $19,440,000 after purchasing an additional 238,539 shares in the last quarter. Institutional investors and hedge funds own 61.79% of the company’s stock.

About GoPro

GoPro, Inc engages in manufacturing and selling camera and camera accessories. The firm provides mountable and wearable cameras and accessories, which it refers to as capture devices. Its product brands include HERO9 Black, HERO8 Black, Max, HERO7 Black, HERO7 Silver, GoPro Plus, and GoPro App. The company was founded by Nicholas Woodman in 2002 and is headquartered in San Mateo, CA.

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Earnings History and Estimates for GoPro (NASDAQ:GPRO)

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