GoPro Inc (GPRO) Expected to Post Quarterly Sales of $270.75 Million
Wall Street analysts expect that GoPro Inc (NASDAQ:GPRO) will report $270.75 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for GoPro’s earnings. The lowest sales estimate is $269.78 million and the highest is $272.00 million. GoPro posted sales of $220.76 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, July 26th.
According to Zacks, analysts expect that GoPro will report full year sales of $270.75 million for the current year, with estimates ranging from $1.12 billion to $1.46 billion. For the next fiscal year, analysts expect that the company will report sales of $1.45 billion per share, with estimates ranging from $1.33 billion to $1.61 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for GoPro.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Thursday, April 27th. The company reported ($0.53) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.01. The company had revenue of $218.61 million during the quarter, compared to analysts’ expectations of $206.23 million. GoPro had a negative net margin of 50.84% and a negative return on equity of 109.75%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.63) earnings per share.
Several equities research analysts have commented on the stock. ValuEngine upgraded shares of GoPro from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Dougherty & Co restated a “sell” rating and set a $5.00 target price on shares of GoPro in a research report on Tuesday, March 7th. Stifel Nicolaus restated a “hold” rating and set a $9.00 target price on shares of GoPro in a research report on Monday, April 17th. BidaskClub lowered shares of GoPro from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, Bank of America Corporation restated an “underperform” rating and set a $7.00 target price (down from $8.00) on shares of GoPro in a research report on Monday, June 5th. Ten analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.14.
In other GoPro news, Director Anthony John Bates sold 41,076 shares of GoPro stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total value of $348,735.24. Following the completion of the sale, the director now owns 142,011 shares in the company, valued at approximately $1,205,673.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 28.69% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in GoPro by 5.3% in the first quarter. Vanguard Group Inc. now owns 6,649,654 shares of the company’s stock valued at $57,851,000 after buying an additional 335,744 shares during the period. State Street Corp boosted its stake in GoPro by 3.2% in the first quarter. State Street Corp now owns 1,793,819 shares of the company’s stock valued at $15,606,000 after buying an additional 55,398 shares during the period. Geode Capital Management LLC boosted its stake in GoPro by 9.6% in the first quarter. Geode Capital Management LLC now owns 804,345 shares of the company’s stock valued at $6,997,000 after buying an additional 70,449 shares during the period. First Eagle Investment Management LLC boosted its stake in GoPro by 0.9% in the first quarter. First Eagle Investment Management LLC now owns 547,200 shares of the company’s stock valued at $4,761,000 after buying an additional 5,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in GoPro by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 470,599 shares of the company’s stock valued at $4,095,000 after buying an additional 23,641 shares during the period. Institutional investors own 25.56% of the company’s stock.
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GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.
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