Citigroup Inc. Reiterates Neutral Rating for GoPro, Inc. (GPRO)
GoPro, Inc. (NASDAQ:GPRO)‘s stock had its “neutral” rating reaffirmed by investment analysts at Citigroup Inc. in a research report issued to clients and investors on Friday, The Fly reports. They presently have a $10.50 price objective on the stock. Citigroup Inc.’s price target indicates a potential upside of 2.34% from the company’s previous close.
A number of other research firms have also recently weighed in on GPRO. Wedbush reiterated a “hold” rating and set a $9.00 price target on shares of GoPro in a report on Thursday, June 1st. Vetr lowered GoPro from a “strong-buy” rating to a “buy” rating and set a $8.98 target price on the stock. in a research note on Wednesday, June 28th. Morgan Stanley raised GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 target price on the stock in a research note on Monday, July 31st. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) raised GoPro from a “sell” rating to a “neutral” rating and increased their target price for the stock from $6.75 to $10.00 in a research note on Tuesday, August 15th. Finally, BidaskClub lowered GoPro from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.75.
GoPro (GPRO) traded up 2.60% on Friday, reaching $10.26. 9,736,038 shares of the company’s stock traded hands. 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 $9.02 and a 200-day moving average price of $8.59. The stock’s market capitalization is $1.39 billion. GoPro also was the target of unusually large options trading on Thursday. Stock traders acquired 25,532 call options on the company. This represents an increase of 611% compared to the typical volume of 3,591 call options.
GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.20. The business had revenue of $296.52 million during the quarter, compared to analysts’ expectations of $268.94 million. GoPro had a negative return on equity of 41.52% and a negative net margin of 27.88%. The company’s revenue was up 34.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.52) EPS. On average, analysts predict that GoPro will post ($0.05) earnings per share for the current year.
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In related news, Director Anthony John Bates sold 25,529 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $10.17, for a total transaction of $259,629.93. Following the transaction, the director now owns 116,482 shares in the company, valued at approximately $1,184,621.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 28.69% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its stake in shares of GoPro by 3.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock valued at $183,000 after purchasing an additional 695 shares during the last quarter. Nomura Holdings Inc. grew its stake in shares of GoPro by 5.4% in the 2nd quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after purchasing an additional 704 shares during the last quarter. Legal & General Group Plc grew its stake in shares of GoPro by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 34,526 shares of the company’s stock valued at $281,000 after purchasing an additional 763 shares during the last quarter. Stifel Financial Corp grew its stake in shares of GoPro by 1.4% in the 2nd quarter. Stifel Financial Corp now owns 59,343 shares of the company’s stock valued at $482,000 after purchasing an additional 813 shares during the last quarter. Finally, Nationwide Fund Advisors grew its stake in shares of GoPro by 0.8% in the 2nd quarter. Nationwide Fund Advisors now owns 111,160 shares of the company’s stock valued at $904,000 after purchasing an additional 900 shares during the last quarter. 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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