GoPro, Inc. (GPRO) Upgraded to “Neutral” at Goldman Sachs Group, Inc. (The)
GoPro, Inc. (NASDAQ:GPRO) was upgraded by Goldman Sachs Group, Inc. (The) from a “sell” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $10.00 price objective on the stock, up from their previous price objective of $6.75. Goldman Sachs Group, Inc. (The)’s price target indicates a potential upside of 1.21% from the company’s current price.
GPRO has been the topic of a number of other reports. ValuEngine upgraded GoPro from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. BidaskClub upgraded GoPro from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Vetr upgraded GoPro from a “buy” rating to a “strong-buy” rating and set a $9.04 target price on the stock in a research report on Wednesday, July 5th. Stifel Nicolaus restated a “hold” rating and set a $9.00 target price on shares of GoPro in a research report on Monday, April 17th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of GoPro in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the company’s stock. GoPro has a consensus rating of “Hold” and an average target price of $8.47.
GoPro (GPRO) traded up 1.44% during trading on Tuesday, hitting $9.88. The stock had a trading volume of 7,031,661 shares. The firm’s 50-day moving average price is $8.50 and its 200-day moving average price is $8.63. The company’s market cap is $1.34 billion. GoPro has a 52-week low of $7.14 and a 52-week high of $17.68.
GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, August 3rd. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.20. GoPro had a negative return on equity of 41.52% and a negative net margin of 27.88%. The firm had revenue of $296.52 million for the quarter, compared to analysts’ expectations of $268.94 million. During the same period last year, the firm earned ($0.52) EPS. The company’s quarterly revenue was up 34.3% on a year-over-year basis. Analysts predict that GoPro will post ($0.05) EPS for the current fiscal year.
In other 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 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 filing with the SEC, which can be accessed through this link. 28.69% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in GoPro by 6.7% in the second quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock valued at $57,672,000 after buying an additional 444,109 shares during the last quarter. Capital Fund Management S.A. raised its stake in GoPro by 338.7% in the second quarter. Capital Fund Management S.A. now owns 456,870 shares of the company’s stock valued at $3,714,000 after buying an additional 352,740 shares during the last quarter. Menta Capital LLC purchased a new stake in GoPro during the first quarter valued at approximately $1,907,000. Wells Fargo & Company MN raised its stake in GoPro by 266.1% in the second quarter. Wells Fargo & Company MN now owns 292,349 shares of the company’s stock valued at $2,376,000 after buying an additional 212,486 shares during the last quarter. Finally, Engineers Gate Manager LP raised its stake in GoPro by 1,324.2% in the second quarter. Engineers Gate Manager LP now owns 193,688 shares of the company’s stock valued at $1,575,000 after buying an additional 180,088 shares during the last quarter. 25.12% of the stock is currently owned by hedge funds and other 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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