GoPro, Inc. (NASDAQ:GPRO) Stock Rating Upgraded by Longbow Research
GoPro, Inc. (NASDAQ:GPRO) was upgraded by stock analysts at Longbow Research from an “underperform” rating to a “neutral” rating in a research report issued on Friday, MarketBeat.com reports. The brokerage currently has a $7.00 target price on the stock. Longbow Research’s target price indicates a potential downside of 28.93% from the company’s previous close.
A number of other equities analysts have also recently commented on the stock. BidaskClub raised shares of GoPro from a “strong sell” rating to a “sell” rating in a research note on Thursday. Cowen and Company reissued a “hold” rating and issued a $8.50 price objective on shares of GoPro in a research note on Thursday. Wedbush restated a “neutral” rating on shares of GoPro in a report on Friday, July 28th. Morgan Stanley upgraded shares of GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 target price for the company in a report on Monday, July 31st. They noted that the move was a valuation call. Finally, Vetr lowered shares of GoPro from a “strong-buy” rating to a “hold” rating and set a $8.09 target price for the company. in a report on Monday, July 24th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company’s stock. GoPro has a consensus rating of “Hold” and an average target price of $8.28.
GoPro (NASDAQ:GPRO) traded up 19.25% during mid-day trading on Friday, reaching $9.85. 28,773,541 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $8.07 and a 200-day moving average price of $8.63. The stock’s market capitalization is $1.42 billion. GoPro has a 12-month low of $7.14 and a 12-month high of $17.68.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.20. GoPro had a negative net margin of 27.88% and a negative return on equity of 38.52%. The business had revenue of $296.52 million during the quarter, compared to analysts’ expectations of $268.94 million. During the same period last year, the company posted ($0.52) EPS. The business’s revenue was up 34.3% on a year-over-year basis. Equities research analysts expect that GoPro will post ($0.12) EPS for the current year.
In other GoPro news, Director Anthony John Bates sold 41,076 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were 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 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.
A number of hedge funds have recently added to or reduced their stakes in GPRO. Vanguard Group Inc. increased 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. Menta Capital LLC bought a new stake in GoPro during the first quarter valued at $1,907,000. Tudor Investment Corp ET AL bought a new stake in GoPro during the first quarter valued at $1,063,000. Schwab Charles Investment Management Inc. increased its stake in GoPro by 22.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 556,863 shares of the company’s stock valued at $4,528,000 after buying an additional 101,157 shares in the last quarter. Finally, MUFG Securities EMEA plc increased its stake in 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 in the last quarter. 25.31% of the stock is currently owned by institutional investors.
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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