GoPro Inc. (GPRO) Given Neutral Rating at Goldman Sachs Group Inc.
GoPro Inc. (NASDAQ:GPRO)‘s stock had its “neutral” rating reissued by equities researchers at Goldman Sachs Group Inc. in a research note issued to investors on Thursday. They presently have a $14.00 target price on the stock, up from their prior target price of $12.50. Goldman Sachs Group Inc.’s price objective suggests a potential downside of 6.48% from the company’s previous close.
Several other equities research analysts have also issued reports on GPRO. Barclays PLC reissued an “equal weight” rating and set a $12.00 target price on shares of GoPro in a research note on Thursday, July 28th. Longbow Research lowered shares of GoPro from a “buy” rating to a “hold” rating in a research note on Wednesday, June 15th. Piper Jaffray Cos. set a $9.00 target price on shares of GoPro and gave the stock a “sell” rating in a research note on Wednesday. Wedbush raised their price target on shares of GoPro from $13.00 to $14.50 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Finally, Dougherty & Co reaffirmed a “hold” rating on shares of GoPro in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $15.78.
GoPro (NASDAQ:GPRO) traded up 7.95% on Thursday, hitting $16.16. The stock had a trading volume of 14,215,549 shares. GoPro has a 12 month low of $8.62 and a 12 month high of $35.00. The stock’s market cap is $2.25 billion. The firm’s 50 day moving average price is $14.41 and its 200-day moving average price is $12.19.
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GoPro (NASDAQ:GPRO) last posted its earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping 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 had revenue of $220.80 million for the quarter, compared to analyst estimates of $194.37 million. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue for the quarter was down 47.4% on a year-over-year basis. On average, analysts forecast that GoPro will post ($1.07) EPS for the current year.
In other GoPro news, Director Michael E. Marks sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $15.58, for a total value of $623,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anthony John Bates sold 9,704 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the president now directly owns 398,137 shares of the company’s stock, valued at approximately $5,637,619.92. The disclosure for this sale can be found here. 28.69% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of GPRO. BlackRock Fund Advisors boosted its position 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 boosted its position 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 boosted its position 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 acquired a new position in shares of GoPro during the fourth quarter valued at approximately $10,583,000. Finally, First Eagle Investment Management LLC acquired a new position in shares of GoPro during the second quarter valued at approximately $5,297,000. 28.46% of the stock is owned by institutional investors.
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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