GoPro Inc. (NASDAQ:GPRO) Given Average Recommendation of “Hold” by Brokerages
Shares of GoPro Inc. (NASDAQ:GPRO) have been assigned a consensus rating of “Hold” from the twenty-three brokerages that are currently covering the firm. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.20.
A number of equities research analysts recently commented on the company. Piper Jaffray Cos. set a $6.50 target price on GoPro and gave the company a “sell” rating in a research report on Thursday, July 28th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of GoPro in a research report on Tuesday, September 13th. JPMorgan Chase & Co. set a $17.00 target price on GoPro and gave the company a “buy” rating in a research report on Thursday, July 21st. Longbow Research assumed coverage on GoPro in a research report on Tuesday, June 14th. They issued a “neutral” rating and a $11.88 target price on the stock. Finally, Bank of America Corp. began coverage on GoPro in a report on Friday, September 16th. They issued a “buy” rating and a $19.00 price target for the company.
GoPro (NASDAQ:GPRO) traded up 2.73% on Wednesday, hitting $14.65. 6,439,380 shares of the company were exchanged. The stock’s market capitalization is $2.04 billion. The stock’s 50-day moving average price is $14.34 and its 200-day moving average price is $12.17. GoPro has a 52-week low of $8.62 and a 52-week high of $35.00.
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GoPro (NASDAQ:GPRO) last issued its earnings results 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 had revenue of $220.80 million for the quarter, compared to analyst estimates of $194.37 million. GoPro had a negative return on equity of 27.52% and a negative net margin of 17.31%. GoPro’s revenue for the quarter was down 47.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, equities research analysts anticipate that GoPro will post ($1.06) earnings per share for the current fiscal year.
In other news, Director Michael E. Marks sold 40,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $15.58, for a total transaction of $623,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward A. Gilhuly sold 700,000 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $15.12, for a total value of $10,584,000.00. The disclosure for this sale can be found here. 28.69% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in GPRO. BlackRock Fund Advisors boosted its position in GoPro by 286.7% in the second quarter. BlackRock Fund Advisors now owns 2,463,419 shares of the company’s stock worth $26,630,000 after buying an additional 1,826,461 shares in the last quarter. AQR Capital Management LLC boosted its position in GoPro by 60.1% in the second quarter. AQR Capital Management LLC now owns 3,170,390 shares of the company’s stock worth $34,272,000 after buying an additional 1,190,470 shares in the last quarter. State Street Corp boosted its position in GoPro by 65.5% in the second quarter. State Street Corp now owns 1,689,682 shares of the company’s stock worth $18,266,000 after buying an additional 668,942 shares in the last quarter. Norges Bank acquired a new position in GoPro during the fourth quarter worth $10,583,000. Finally, First Eagle Investment Management LLC acquired a new position in GoPro during the second quarter worth $5,297,000. Institutional investors and hedge funds 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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