GoPro, Inc. (NASDAQ:GPRO) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on GPRO. Goldman Sachs Group, Inc. (The) raised GoPro from a “sell” rating to a “neutral” rating and boosted their price target for the company from $6.75 to $10.00 in a research report on Tuesday. J P Morgan Chase & Co set a $12.00 target price on GoPro and gave the stock a “buy” rating in a research report on Sunday, April 30th. Raymond James Financial, Inc. raised GoPro from an “underperform” rating to a “market perform” rating in a research report on Friday, August 4th. Cowen and Company reaffirmed a “hold” rating and issued a $8.50 target price on shares of GoPro in a research report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of GoPro in a research report on Wednesday, August 9th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $8.47.

GoPro (NASDAQ GPRO) traded down 2.90% during trading on Friday, reaching $9.05. The company had a trading volume of 4,398,963 shares. GoPro has a 12 month low of $7.14 and a 12 month high of $17.68. The company’s market capitalization is $1.23 billion. The firm’s 50 day moving average is $8.63 and its 200-day moving average is $8.64.

GoPro (NASDAQ:GPRO) last posted 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. 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 during the quarter, compared to the consensus estimate of $268.94 million. During the same quarter in the previous year, the business earned ($0.52) earnings per share. The firm’s quarterly revenue was up 34.3% compared to the same quarter last year. On average, equities analysts expect that GoPro will post ($0.05) earnings per share for the current year.

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In other GoPro news, Director Anthony John Bates sold 41,076 shares of the company’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 sale, the director now owns 142,011 shares in the company, valued at $1,205,673.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 28.69% of the company’s stock.

Several hedge funds have recently made changes to their positions in GPRO. Nomura Holdings Inc. bought a new stake in shares of GoPro during the first quarter worth $113,000. Engineers Gate Manager LP bought a new stake in shares of GoPro during the first quarter worth $118,000. Amalgamated Bank boosted its stake in shares of GoPro by 14.6% in the second quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock worth $118,000 after buying an additional 1,858 shares during the last quarter. 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 worth $132,000 after buying an additional 2,000 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of GoPro by 195.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,250 shares of the company’s stock worth $132,000 after buying an additional 10,750 shares during the last quarter. Institutional investors and hedge funds own 25.12% of the company’s stock.

GoPro Company Profile

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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