GoPro Inc. (GPRO) Given a $9.00 Price Target by Piper Jaffray Cos. Analysts
GoPro Inc. (NASDAQ:GPRO) has been assigned a $9.00 target price by research analysts at Piper Jaffray Cos. in a research note issued to investors on Wednesday. The brokerage presently has a a “sell” rating on the stock. Piper Jaffray Cos.’s price target suggests a potential downside of 36.89% from the company’s current price.
A number of other equities research analysts have also recently weighed in on the stock. Bank of America Corp. started coverage on shares of GoPro in a research note on Friday, September 16th. They set a “buy” rating and a $19.00 price objective on the stock. Dougherty & Co restated a “hold” rating on shares of GoPro in a research note on Monday, July 18th. Wedbush lifted their price objective on shares of GoPro from $14.50 to $17.50 and gave the company an “outperform” rating in a research note on Tuesday. Vetr upgraded shares of GoPro from a “buy” rating to a “strong-buy” rating and set a $17.43 price objective on the stock in a research note on Monday, August 22nd. Finally, JPMorgan Chase & Co. set a $17.00 price objective on shares of GoPro and gave the company a “buy” rating in a research note on Thursday, July 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $15.62.
Shares of GoPro (NASDAQ:GPRO) traded up 5.042% on Wednesday, hitting $14.979. 9,649,903 shares of the stock traded hands. The firm’s 50-day moving average is $14.34 and its 200 day moving average is $12.17. GoPro has a 12-month low of $8.62 and a 12-month high of $35.00. The firm’s market cap is $2.09 billion.
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GoPro (NASDAQ:GPRO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $220.80 million for the quarter, compared to analysts’ expectations of $194.37 million. During the same period in the previous year, the business earned $0.35 earnings per share. The company’s revenue was down 47.4% on a year-over-year basis. Equities research analysts forecast that GoPro will post ($1.06) EPS for the current fiscal year.
In related news, President Anthony John Bates sold 9,704 shares of the business’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 value of $137,408.64. Following the completion of the sale, the president now directly owns 398,137 shares in the company, valued at approximately $5,637,619.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Marks sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $15.58, for a total value of $623,200.00. The disclosure for this sale can be found here. 28.69% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. BlackRock Fund Advisors raised its stake in GoPro by 286.7% in the second quarter. BlackRock Fund Advisors now owns 2,463,419 shares of the company’s stock valued at $26,630,000 after buying an additional 1,826,461 shares during the period. AQR Capital Management LLC raised its stake in GoPro by 60.1% in the second quarter. AQR Capital Management LLC now owns 3,170,390 shares of the company’s stock valued at $34,272,000 after buying an additional 1,190,470 shares during the period. State Street Corp raised its stake in GoPro by 65.5% in the second quarter. State Street Corp now owns 1,689,682 shares of the company’s stock valued at $18,266,000 after buying an additional 668,942 shares during the period. Norges Bank bought a new stake in GoPro during the fourth quarter valued at $10,583,000. Finally, First Eagle Investment Management LLC bought a new stake in GoPro during the second quarter valued at $5,297,000. Hedge funds and other institutional investors own 28.46% of the company’s stock.
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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