GoPro, Inc. (GPRO) Stock Rating Reaffirmed by Wedbush
GoPro, Inc. (NASDAQ:GPRO)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Thursday.
GPRO has been the topic of several other research reports. Vetr upgraded GoPro from a “sell” rating to a “strong-buy” rating and set a $11.55 price target on the stock in a report on Thursday, October 19th. J P Morgan Chase & Co restated an “overweight” rating and set a $13.00 price target on shares of GoPro in a report on Saturday, August 26th. Morgan Stanley increased their target price on GoPro from $8.50 to $9.50 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Dougherty & Co reiterated a “sell” rating and issued a $5.00 target price on shares of GoPro in a research note on Wednesday, July 5th. Finally, BidaskClub lowered GoPro from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. GoPro currently has an average rating of “Hold” and an average price target of $9.59.
GoPro (NASDAQ:GPRO) opened at 9.86 on Thursday. The stock has a 50 day moving average of $10.33 and a 200 day moving average of $9.04. GoPro has a one year low of $7.14 and a one year high of $14.34. The company’s market cap is $1.34 billion.
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 quarter in the prior year, the firm posted ($0.52) EPS. GoPro’s quarterly revenue was up 34.3% compared to the same quarter last year. On average, analysts anticipate that GoPro will post $0.04 earnings per share for the current fiscal year.
In related news, Director Anthony John Bates sold 25,529 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $10.17, for a total transaction of $259,629.93. Following the sale, the director now owns 116,482 shares of the company’s stock, valued at $1,184,621.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Charles J. Prober sold 24,918 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $11.00, for a total value of $274,098.00. Following the sale, the chief operating officer now directly owns 148,493 shares in the company, valued at approximately $1,633,423. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,344 shares of company stock worth $542,205. 28.58% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of GPRO. Bank of New York Mellon Corp boosted its position in GoPro by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 470,599 shares of the company’s stock valued at $4,095,000 after purchasing an additional 23,641 shares in the last quarter. Swiss National Bank boosted its position in GoPro by 3.9% during the first quarter. Swiss National Bank now owns 145,600 shares of the company’s stock valued at $1,267,000 after purchasing an additional 5,500 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in GoPro by 33.6% during the first quarter. UBS Asset Management Americas Inc. now owns 52,076 shares of the company’s stock valued at $453,000 after purchasing an additional 13,106 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in GoPro by 25.9% during the first quarter. Parametric Portfolio Associates LLC now owns 49,887 shares of the company’s stock valued at $434,000 after purchasing an additional 10,264 shares in the last quarter. Finally, American International Group Inc. boosted its position in GoPro by 7.1% during the first quarter. American International Group Inc. now owns 62,227 shares of the company’s stock valued at $541,000 after purchasing an additional 4,110 shares in the last quarter. 24.30% of the stock is currently owned by institutional investors.
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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