Pacific Crest Reaffirms “Equal Weight” Rating for GoPro Inc. (GPRO)
GoPro Inc. (NASDAQ:GPRO)‘s stock had its “equal weight” rating restated by Pacific Crest in a note issued to investors on Monday.
Several other equities research analysts have also issued reports on GPRO. Barclays PLC reissued an “equal weight” rating and issued a $12.00 price target on shares of GoPro in a report on Thursday, July 28th. Wedbush boosted their price target on shares of GoPro from $13.00 to $14.50 and gave the company an “outperform” rating in a report on Thursday, July 28th. Dougherty & Co reissued a “hold” rating on shares of GoPro in a report on Tuesday, September 20th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $14.00 price target (up previously from $12.50) on shares of GoPro in a report on Thursday, September 22nd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $10.00 price target on shares of GoPro in a report on Thursday, September 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.89.
GoPro (NASDAQ:GPRO) traded up 0.59% during trading on Monday, reaching $13.68. 3,256,108 shares of the company’s stock traded hands. The company’s market capitalization is $1.91 billion. GoPro has a 12 month low of $8.62 and a 12 month high of $31.33. The firm’s 50 day moving average is $15.11 and its 200-day moving average is $12.63.
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GoPro (NASDAQ:GPRO) last announced its earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the Zacks’ 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 quarter in the previous year, the firm posted $0.35 earnings per share. GoPro’s revenue was down 47.4% compared to the same quarter last year. Analysts expect that GoPro will post ($1.07) EPS for the current fiscal year.
In related news, Director Edward A. Gilhuly sold 700,000 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $15.12, for a total transaction of $10,584,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anthony John Bates sold 9,704 shares of the 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 sale, the president now directly owns 398,137 shares of the company’s stock, valued at $5,637,619.92. The disclosure for this sale can be found here. 28.69% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. MSI Financial Services Inc boosted its stake in GoPro by 42.9% in the third quarter. MSI Financial Services Inc now owns 6,812 shares of the company’s stock worth $114,000 after buying an additional 2,044 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in GoPro during the third quarter worth about $595,000. BNP Paribas Arbitrage SA boosted its stake in GoPro by 152.2% in the third quarter. BNP Paribas Arbitrage SA now owns 388,344 shares of the company’s stock worth $6,478,000 after buying an additional 234,352 shares during the last quarter. IFP Advisors Inc boosted its stake in GoPro by 20.2% in the second quarter. IFP Advisors Inc now owns 21,721 shares of the company’s stock worth $235,000 after buying an additional 3,646 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in GoPro by 152.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 288,321 shares of the company’s stock worth $3,117,000 after buying an additional 173,950 shares during the last quarter. 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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