Vetr Inc. Lowers GoPro, Inc. (GPRO) to Hold
GoPro, Inc. (NASDAQ:GPRO) was downgraded by Vetr from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday. They presently have a $8.09 price objective on the stock. Vetr‘s price objective suggests a potential upside of 0.75% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. Dougherty & Co restated a “sell” rating and issued a $5.00 price objective on shares of GoPro in a report on Wednesday, July 5th. BidaskClub upgraded GoPro from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Bank of America Corporation reiterated an “underperform” rating and set a $7.00 price target (down previously from $8.00) on shares of GoPro in a report on Monday, June 5th. ValuEngine upgraded GoPro from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Wedbush reiterated a “hold” rating and set a $9.00 price target on shares of GoPro in a report on Thursday, June 1st. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the stock. GoPro currently has an average rating of “Hold” and an average target price of $8.23.
Shares of GoPro (NASDAQ:GPRO) traded up 0.88% during mid-day trading on Monday, hitting $8.03. The company’s stock had a trading volume of 1,873,786 shares. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. The stock’s market cap is $1.15 billion. The company has a 50-day moving average price of $8.13 and a 200-day moving average price of $8.68.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Thursday, April 27th. The company reported ($0.53) earnings per share for the quarter, beating the Thomson Reuters’ 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 return on equity of 49.75% and a negative net margin of 34.63%. GoPro’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.63) EPS. Analysts predict 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 GoPro stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $8.49, for a total value of $348,735.24. Following the transaction, the director now directly owns 142,011 shares of the company’s stock, valued at $1,205,673.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 28.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GPRO. Allegis Investment Advisors LLC boosted its position 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 worth $250,000 after buying an additional 400 shares during the period. National Planning Corp boosted 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 worth $155,000 after buying an additional 450 shares during the period. Amalgamated Bank boosted 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 worth $154,000 after buying an additional 482 shares during the period. Raymond James Financial Services Advisors Inc. boosted 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 worth $183,000 after buying an additional 695 shares during the period. Finally, Suntrust Banks Inc. boosted 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 worth $179,000 after buying an additional 696 shares during the period. 25.24% of the stock is currently owned by institutional investors and hedge funds.
GoPro Company Profile
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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