GoPro Inc. (NASDAQ:GPRO) has been assigned a $9.00 price target by equities research analysts at Piper Jaffray Cos. in a research report issued to clients and investors on Wednesday. The firm currently has a a “sell” rating on the stock. Piper Jaffray Cos.’s price objective points to a potential downside of 36.89% from the stock’s current price.

Several other research firms also recently issued reports on GPRO. Wedbush lifted their price target on shares of GoPro from $14.50 to $17.50 and gave the company an “outperform” rating in a research report on Tuesday. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of GoPro in a report on Monday, August 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $17.00 price objective on shares of GoPro in a report on Friday, June 17th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $11.00 price objective on shares of GoPro in a report on Tuesday, July 26th. Finally, Vetr downgraded shares of GoPro from a “strong-buy” rating to a “buy” rating and set a $17.10 price objective on the stock. in a report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. GoPro has an average rating of “Hold” and an average price target of $15.62.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

GoPro (NASDAQ:GPRO) traded up 3.7174% during trading on Wednesday, hitting $14.7901. 8,696,351 shares of the company traded hands. The company’s market capitalization is $2.06 billion. GoPro has a 12-month low of $8.62 and a 12-month high of $35.00. The stock has a 50 day moving average price of $14.34 and a 200 day moving average price of $12.17.

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GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate 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 earned $220.80 million during the quarter, compared to the consensus estimate of $194.37 million. During the same quarter last year, the firm posted $0.35 EPS. GoPro’s revenue was down 47.4% compared to the same quarter last year. On average, equities analysts anticipate that GoPro will post ($1.06) earnings per share for the current year.

In other news, Director Edward A. Gilhuly sold 700,000 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $15.12, for a total transaction of $10,584,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Marks sold 40,000 shares of the business’s stock in a transaction dated 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. Insiders own 28.69% of the company’s stock.

A number of hedge funds have recently modified their holdings of GPRO. BlackRock Fund Advisors raised its stake in shares of 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 in the last quarter. AQR Capital Management LLC raised its stake in shares of 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 in the last quarter. State Street Corp raised its stake in shares of 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 in the last quarter. Norges Bank purchased a new stake in shares of GoPro during the fourth quarter valued at about $10,583,000. Finally, First Eagle Investment Management LLC purchased a new stake in shares of GoPro during the second quarter valued at about $5,297,000. 28.46% of the stock is owned by institutional investors and hedge funds.

About GoPro

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.

5 Day Chart for NASDAQ:GPRO

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