GoPro, Inc. (GPRO) Price Target Raised to $9.50 at Morgan Stanley
GoPro, Inc. (NASDAQ:GPRO) had its target price upped by investment analysts at Morgan Stanley from $8.50 to $9.50 in a research report issued to clients and investors on Friday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 7.41% from the company’s current price.
GPRO has been the topic of several other reports. BidaskClub raised GoPro from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of GoPro in a report on Wednesday, August 9th. Citigroup Inc. reissued a “neutral” rating and issued a $10.50 target price on shares of GoPro in a report on Friday. Vetr downgraded GoPro from a “hold” rating to a “strong sell” rating and set a $8.02 target price on the stock. in a report on Monday, August 7th. Finally, Goldman Sachs Group, Inc. (The) raised GoPro from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $6.75 to $10.00 in a report on Tuesday, August 15th. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. GoPro has an average rating of “Hold” and an average target price of $8.75.
Shares of GoPro (GPRO) traded up 2.60% during trading on Friday, hitting $10.26. The company had a trading volume of 9,728,543 shares. The firm’s market capitalization is $1.39 billion. The company’s 50 day moving average is $9.02 and its 200 day moving average is $8.59. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. GoPro also saw some unusual options trading on Thursday. Stock traders acquired 25,532 call options on the stock. This represents an increase of 611% compared to the typical daily 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, beating the Thomson Reuters’ 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 company had revenue of $296.52 million for the quarter, compared to analyst estimates of $268.94 million. During the same period in the previous year, the company posted ($0.52) earnings per share. The firm’s revenue was up 34.3% on a year-over-year basis. Analysts anticipate that GoPro will post ($0.05) earnings per share for the current fiscal year.
In other GoPro news, Director Anthony John Bates sold 25,529 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $10.17, for a total value of $259,629.93. Following the completion of the sale, the director now owns 116,482 shares in the company, valued at $1,184,621.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 28.69% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of GPRO. Nomura Holdings Inc. increased its position in GoPro by 5.4% in the second quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock worth $112,000 after buying an additional 704 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in GoPro in the first quarter worth about $118,000. Amalgamated Bank increased its position in 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in 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 in the last quarter. Finally, Concourse Capital Management LLC purchased a new stake in GoPro in the first quarter worth about $155,000. Institutional investors and hedge funds 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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