GoPro, Inc. (NASDAQ:GPRO) was upgraded by equities research analysts at Raymond James Financial, Inc. from an “underperform” rating to a “market perform” rating in a report released on Friday, MarketBeat reports.

GPRO has been the subject of a number of other reports. ValuEngine upgraded GoPro from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. BidaskClub upgraded GoPro from a “strong sell” rating to a “sell” rating in a research note on Thursday. Vetr upgraded GoPro from a “buy” rating to a “strong-buy” rating and set a $9.04 price target for the company in a research note on Wednesday, July 5th. Stifel Nicolaus restated a “hold” rating and set a $9.00 price target on shares of GoPro in a research note on Monday, April 17th. Finally, Bank of America Corporation restated an “underperform” rating and set a $7.00 price target (down from $8.00) on shares of GoPro in a research note on Monday, June 5th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.28.

Shares of GoPro (NASDAQ GPRO) traded up 19.25% during trading on Friday, hitting $9.85. 28,773,541 shares of the company were exchanged. The company has a 50 day moving average of $8.07 and a 200-day moving average of $8.63. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. The stock’s market capitalization is $1.42 billion.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.20. The business had revenue of $296.52 million during the quarter, compared to the consensus estimate of $268.94 million. GoPro had a negative return on equity of 38.52% and a negative net margin of 27.88%. The business’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.52) EPS. On average, analysts forecast that GoPro will post ($0.12) earnings per share for the current year.

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In related news, Director Anthony John Bates sold 41,076 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was 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 approximately $1,205,673.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.69% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of GoPro during the fourth quarter valued at about $270,000. State Street Corp boosted its stake in shares of GoPro by 5.1% in the fourth quarter. State Street Corp now owns 1,738,421 shares of the company’s stock valued at $15,142,000 after buying an additional 84,601 shares during the period. Norges Bank purchased a new stake in shares of GoPro during the fourth quarter valued at about $492,000. Financial Architects Inc boosted its stake in shares of GoPro by 15.2% in the first quarter. Financial Architects Inc now owns 15,200 shares of the company’s stock valued at $132,000 after buying an additional 2,000 shares during the period. Finally, MUFG Securities EMEA plc boosted its stake in shares of GoPro by 7,126.6% in the first quarter. MUFG Securities EMEA plc now owns 90,714 shares of the company’s stock valued at $789,000 after buying an additional 92,005 shares during the period. 25.31% of the stock is currently owned by institutional investors and hedge funds.

About GoPro

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.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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