Brokerages Anticipate GoPro, Inc. (NASDAQ:GPRO) Will Post Quarterly Sales of $270.75 Million
Brokerages predict that GoPro, Inc. (NASDAQ:GPRO) will announce sales of $270.75 million for the current quarter, Zacks reports. Seven analysts have provided estimates for GoPro’s earnings, with the lowest sales estimate coming in at $269.78 million and the highest estimate coming in at $272.00 million. GoPro reported sales of $220.76 million during the same quarter last year, which indicates a positive year over year growth rate of 22.6%. The firm is expected to issue its next earnings results after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that GoPro will report full year sales of $270.75 million for the current financial year, with estimates ranging from $1.12 billion to $1.46 billion. For the next year, analysts forecast that the firm will post sales of $1.45 billion per share, with estimates ranging from $1.33 billion to $1.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for GoPro.
GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Thursday, April 27th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $218.61 million during the quarter, compared to analysts’ expectations of $206.23 million. During the same period in the previous year, the business posted ($0.63) earnings per share. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year.
GPRO has been the subject of several recent analyst reports. Vetr upgraded GoPro from a “buy” rating to a “strong-buy” rating and set a $9.67 price objective for the company in a research report on Friday, April 14th. Stifel Nicolaus restated a “hold” rating and set a $9.00 price objective on shares of GoPro in a research report on Saturday, April 29th. Dougherty & Co restated a “sell” rating and set a $5.00 price objective on shares of GoPro in a research report on Tuesday, April 25th. ValuEngine upgraded GoPro from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research downgraded GoPro from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $8.28.
GoPro (NASDAQ:GPRO) opened at 8.18 on Friday. GoPro has a 12-month low of $7.14 and a 12-month high of $17.68. The company has a 50 day moving average price of $8.32 and a 200-day moving average price of $8.78. The company’s market capitalization is $1.18 billion.
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In other news, Director Anthony John Bates sold 41,076 shares of the firm’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 completion of the transaction, the director now directly owns 142,011 shares in the company, valued at $1,205,673.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.69% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 25.56% of the stock is owned by institutional investors and hedge funds.
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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