GoPro, Inc. (GPRO) Lifted to Market Perform at Raymond James Financial, Inc.
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.
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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