GoPro Inc. (GPRO) Price Target Raised to $17.50
GoPro Inc. (NASDAQ:GPRO) had its price target upped by investment analysts at Wedbush from $14.50 to $17.50 in a research report issued to clients and investors on Tuesday. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 22.72% from the company’s current price.
A number of other equities research analysts also recently commented on the stock. Bank of America Corp. started coverage on shares of GoPro in a research report on Friday. They issued a “buy” rating and a $19.00 price objective for the company. Dougherty & Co reiterated a “hold” rating on shares of GoPro in a research report on Monday, July 18th. Vetr upgraded shares of GoPro from a “buy” rating to a “strong-buy” rating and set a $17.43 price target for the company in a research report on Monday, August 22nd. JPMorgan Chase & Co. set a $17.00 price target on shares of GoPro and gave the company a “buy” rating in a research report on Thursday, July 21st. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of GoPro in a research report on Tuesday, September 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. GoPro currently has a consensus rating of “Hold” and an average price target of $15.49.
GoPro (NASDAQ:GPRO) traded down 6.86% on Tuesday, reaching $14.26. The company had a trading volume of 22,467,789 shares. The stock’s market capitalization is $1.99 billion. GoPro has a 52-week low of $8.62 and a 52-week high of $35.00. The stock has a 50 day moving average price of $14.35 and a 200 day moving average price of $12.16.
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GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.52) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.06. The firm earned $220.80 million during the quarter, compared to the consensus estimate of $194.37 million. GoPro had a negative net margin of 17.31% and a negative return on equity of 27.52%. The firm’s revenue was down 47.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. Analysts expect that GoPro will post ($1.06) EPS for the current year.
In other news, Director Edward A. Gilhuly sold 700,000 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anthony John Bates sold 9,704 shares of the business’s stock in a transaction 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 sale, the president now directly owns 398,137 shares of the company’s stock, valued at $5,637,619.92. The disclosure for this sale can be found here. 28.69% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. bought a new stake in shares of GoPro during the second quarter valued at about $100,000. BlueMountain Capital Management LLC bought a new stake in shares of GoPro during the first quarter valued at about $117,000. 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 valued at $120,000 after buying an additional 80,800 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of GoPro during the second quarter valued at about $111,000. Finally, 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 valued at $114,000 after buying an additional 3,164 shares in the last quarter. 28.46% of the stock is owned by institutional investors.
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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