GoPro, Inc. (GPRO) Cut to “Buy” at Vetr Inc.
GoPro, Inc. (NASDAQ:GPRO) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday. They presently have a $8.98 price objective on the stock. Vetr‘s price target suggests a potential upside of 8.85% from the stock’s previous close.
GPRO has been the subject of a number of other research reports. ValuEngine raised GoPro from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Dougherty & Co reaffirmed a “sell” rating and issued a $5.00 target price on shares of GoPro in a report on Tuesday, March 7th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $9.00 target price on shares of GoPro in a report on Monday, April 17th. BidaskClub cut GoPro from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Finally, Bank of America Corporation reaffirmed an “underperform” rating and issued a $7.00 target price (down previously from $8.00) on shares of GoPro in a report on Monday, June 5th. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.10.
Shares of GoPro (GPRO) traded up 1.35% during mid-day trading on Wednesday, hitting $8.25. The stock had a trading volume of 1,494,710 shares. GoPro has a 52 week low of $7.14 and a 52 week high of $17.68. The firm’s market cap is $1.19 billion. The stock has a 50 day moving average price of $8.40 and a 200 day moving average price of $8.84. GoPro also saw unusually large options trading on Tuesday. Traders bought 1,722 call options on the company. This is an increase of approximately 531% compared to the average daily volume of 273 call options.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, April 27th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.01. GoPro had a negative return on equity of 49.75% and a negative net margin of 34.63%. The company had revenue of $218.61 million during the quarter, compared to analysts’ expectations of $206.23 million. During the same quarter in the previous year, the firm earned ($0.63) EPS. GoPro’s revenue was up 19.1% on a year-over-year basis. Equities research analysts expect that GoPro will post ($0.15) EPS for the current fiscal year.
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In related news, Director Anthony John Bates sold 41,076 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total transaction of $348,735.24. Following the sale, the director now owns 142,011 shares in the company, valued at approximately $1,205,673.39. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 28.69% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in GPRO. Allegis Investment Advisors LLC raised its stake in shares of GoPro by 1.8% in the second quarter. Allegis Investment Advisors LLC now owns 23,100 shares of the company’s stock valued at $250,000 after buying an additional 400 shares during the last quarter. National Planning Corp raised its position in shares of GoPro by 3.8% in the second quarter. National Planning Corp now owns 12,325 shares of the company’s stock valued at $155,000 after buying an additional 450 shares during the last quarter. Amalgamated Bank raised its position in shares of GoPro by 4.6% in the second quarter. Amalgamated Bank now owns 11,030 shares of the company’s stock valued at $154,000 after buying an additional 482 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of GoPro by 3.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock valued at $183,000 after buying an additional 695 shares during the last quarter. Finally, Suntrust Banks Inc. raised its position in shares of GoPro by 4.4% in the second quarter. Suntrust Banks Inc. now owns 16,583 shares of the company’s stock valued at $179,000 after buying an additional 696 shares during the last quarter. Institutional investors own 25.56% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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