GoPro Inc. (GPRO) Earns Equal Weight Rating from Pacific Crest
GoPro Inc. (NASDAQ:GPRO)‘s stock had its “equal weight” rating reissued by equities researchers at Pacific Crest in a research note issued on Monday.
Other analysts have also recently issued research reports about the company. Oppenheimer Holdings Inc. restated a “” rating on shares of GoPro in a report on Thursday, July 28th. BlueFin Research restated an “add” rating on shares of GoPro in a report on Monday, September 26th. JPMorgan Chase & Co. set a $17.00 target price on GoPro and gave the stock a “buy” rating in a report on Thursday, July 21st. Vetr upgraded GoPro from a “hold” rating to a “buy” rating and set a $13.42 target price on the stock in a report on Tuesday, August 2nd. Finally, Bank of America Corp. began coverage on GoPro in a report on Friday, September 16th. They set a “buy” rating and a $19.00 target price on the stock. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $15.89.
Shares of GoPro (NASDAQ:GPRO) traded up 0.66% during trading on Monday, reaching $13.69. The company had a trading volume of 3,322,193 shares. GoPro has a 52-week low of $8.62 and a 52-week high of $31.33. The company has a 50 day moving average of $15.11 and a 200-day moving average of $12.63. The firm’s market capitalization is $1.91 billion.
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GoPro (NASDAQ:GPRO) last announced its quarterly earnings results 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 return on equity of 27.52% and a negative net margin of 17.31%. The firm had revenue of $220.80 million for the quarter, compared to analysts’ expectations of $194.37 million. During the same period in the prior year, the business posted $0.35 earnings per share. The business’s revenue was down 47.4% compared to the same quarter last year. Equities analysts expect that GoPro will post ($1.07) earnings per share for the current year.
In related news, Director Michael E. Marks sold 40,000 shares of GoPro stock in a transaction that occurred 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 hyperlink. Also, Director Edward A. Gilhuly sold 700,000 shares of GoPro stock in a transaction that occurred 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 insiders.
Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in GoPro by 23.0% in the second quarter. Bank of New York Mellon Corp now owns 428,954 shares of the company’s stock valued at $4,637,000 after buying an additional 80,338 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in GoPro during the second quarter valued at $910,000. Sanders Morris Harris Inc. boosted its stake in GoPro by 71.4% in the second quarter. Sanders Morris Harris Inc. now owns 40,800 shares of the company’s stock valued at $441,000 after buying an additional 17,000 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in GoPro during the second quarter valued at $556,000. Finally, BlueMountain Capital Management LLC purchased a new stake in GoPro during the first quarter valued at $117,000. 28.60% of the stock is owned by institutional investors and hedge funds.
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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