J P Morgan Chase & Co Increases GoPro, Inc. (GPRO) Price Target to $15.00
GoPro, Inc. (NASDAQ:GPRO) had its price objective raised by analysts at J P Morgan Chase & Co from $13.00 to $15.00 in a research note issued on Thursday, The Fly reports. The firm currently has an “overweight” rating on the stock. J P Morgan Chase & Co’s target price indicates a potential upside of 50.00% from the stock’s current price.
Several other analysts have also recently issued reports on the company. ValuEngine upgraded GoPro from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research cut GoPro from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Bank of America Corporation restated an “underperform” rating and issued a $7.00 target price (down from $8.00) on shares of GoPro in a report on Monday, June 5th. Vetr cut GoPro from a “strong-buy” rating to a “buy” rating and set a $8.98 target price for the company. in a report on Wednesday, June 28th. Finally, Wedbush restated a “hold” rating and issued a $9.00 target price on shares of GoPro in a report on Thursday, June 1st. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.64.
GoPro (GPRO) traded up 12.36% on Thursday, reaching $10.00. 32,831,807 shares of the company’s stock traded hands. The stock’s market capitalization is $1.36 billion. GoPro has a 52 week low of $7.14 and a 52 week high of $17.68. The firm has a 50-day moving average price of $8.96 and a 200-day moving average price of $8.58.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.20. The firm 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 41.52% and a negative net margin of 27.88%. The firm’s revenue was up 34.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.52) EPS. On average, analysts predict that GoPro will post ($0.05) earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new position in GoPro during the 1st quarter valued at about $113,000. Engineers Gate Manager LP purchased a new position in GoPro during the 1st quarter valued at about $118,000. Amalgamated Bank boosted its holdings in GoPro by 14.6% during the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock valued at $118,000 after acquiring an additional 1,858 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in GoPro by 195.5% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,250 shares of the company’s stock valued at $132,000 after acquiring an additional 10,750 shares during the period. Finally, Concourse Capital Management LLC purchased a new position in GoPro during the 1st quarter valued at about $155,000. Institutional investors own 24.40% 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.
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