Analysts Expect GoPro, Inc. (GPRO) Will Post Quarterly Sales of $279.49 Million
Wall Street brokerages forecast that GoPro, Inc. (NASDAQ:GPRO) will post sales of $279.49 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for GoPro’s earnings. The lowest sales estimate is $247.63 million and the highest is $314.89 million. GoPro reported sales of $240.57 million during the same quarter last year, which indicates a positive year-over-year growth rate of 16.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that GoPro will report full year sales of $279.49 million for the current financial year, with estimates ranging from $1.12 billion to $1.46 billion. For the next financial year, analysts expect that the company will post sales of $1.44 billion per share, with estimates ranging from $1.31 billion to $1.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow GoPro.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.20. GoPro had a negative return on equity of 38.52% and a negative net margin of 27.88%. The company had revenue of $296.52 million for the quarter, compared to analysts’ expectations of $268.94 million. During the same quarter last year, the business earned ($0.52) earnings per share. GoPro’s revenue was up 34.3% on a year-over-year basis.
A number of analysts recently issued reports on GPRO shares. Vetr raised GoPro from a “buy” rating to a “strong-buy” rating and set a $9.04 price objective on the stock in a report on Tuesday, July 18th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of GoPro in a report on Monday, May 1st. Morgan Stanley raised GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price objective on the stock in a report on Monday, July 31st. They noted that the move was a valuation call. Stifel Nicolaus reissued a “hold” rating and set a $9.00 price objective on shares of GoPro in a report on Saturday, April 29th. Finally, Dougherty & Co reissued a “sell” rating and set a $5.00 price objective on shares of GoPro in a report on Wednesday, July 5th. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $8.28.
In related news, Director Anthony John Bates sold 41,076 shares of the firm’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 transaction of $348,735.24. Following the transaction, the director now directly owns 142,011 shares in the company, valued at approximately $1,205,673.39. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 28.69% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 during the last quarter. State Street Corp raised its position 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 during the last quarter. Geode Capital Management LLC raised its position 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 during the last quarter. Schwab Charles Investment Management Inc. raised its position 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 during the last quarter. Finally, First Eagle Investment Management LLC raised its position 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 during the last quarter. Institutional investors and hedge funds own 25.34% of the company’s stock.
GoPro (GPRO) opened at 9.85 on Monday. The company has a 50 day moving average price of $8.07 and a 200-day moving average price of $8.63. GoPro has a 12 month low of $7.14 and a 12 month high of $17.68. The company’s market cap is $1.42 billion.
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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