GoPro, Inc. (GPRO) Price Target Increased to $9.00 by Analysts at Bank of America Corp
GoPro, Inc. (NASDAQ:GPRO) had its price objective upped by analysts at Bank of America Corp from $8.00 to $9.00 in a research note issued on Tuesday. The brokerage presently has an “underperform” rating on the stock. Bank of America Corp’s target price would indicate a potential downside of 13.71% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Goldman Sachs Group, Inc. (The) raised GoPro from a “sell” rating to a “neutral” rating and raised their price target for the company from $6.75 to $10.00 in a research report on Tuesday, August 15th. Vetr downgraded GoPro from a “hold” rating to a “strong sell” rating and set a $8.02 price target on the stock. in a research report on Monday, August 7th. J P Morgan Chase & Co raised their price target on GoPro from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, September 7th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $10.50 price target on shares of GoPro in a research report on Friday, September 8th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of GoPro in a research report on Wednesday, August 9th. 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 given a strong buy rating to the company’s stock. GoPro has an average rating of “Hold” and an average target price of $9.70.
GoPro (GPRO) traded up 0.87% on Tuesday, hitting $10.43. The company had a trading volume of 6,391,550 shares. The stock’s market cap is $1.41 billion. The firm’s 50 day moving average price is $10.36 and its 200 day moving average price is $9.07. GoPro has a 12-month low of $7.14 and a 12-month high of $13.09.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.20. The company had revenue of $296.52 million for 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 last year, the business posted ($0.52) earnings per share. Equities analysts predict that GoPro will post $0.04 earnings per share for the current fiscal year.
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In other news, COO Charles J. Prober sold 24,918 shares of GoPro stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $11.00, for a total value of $274,098.00. Following the completion of the transaction, the chief operating officer now owns 148,493 shares in the company, valued at $1,633,423. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony John Bates sold 25,529 shares of GoPro stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $10.17, for a total transaction of $259,629.93. Following the completion of the transaction, the director now owns 116,482 shares of the company’s stock, valued at approximately $1,184,621.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,344 shares of company stock valued at $542,205. Corporate insiders own 28.58% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Nomura Holdings Inc. raised its stake in shares of GoPro by 5.4% in the second quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after acquiring an additional 704 shares during the last quarter. Legal & General Group Plc raised its stake in shares of GoPro by 2.3% in the second quarter. Legal & General Group Plc now owns 34,526 shares of the company’s stock valued at $281,000 after acquiring an additional 763 shares during the last quarter. Stifel Financial Corp raised its stake in shares of GoPro by 1.4% in the second quarter. Stifel Financial Corp now owns 59,343 shares of the company’s stock valued at $482,000 after acquiring an additional 813 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of GoPro by 0.8% in the second quarter. Nationwide Fund Advisors now owns 111,160 shares of the company’s stock valued at $904,000 after acquiring an additional 900 shares during the last quarter. Finally, Amalgamated Bank raised 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 valued at $118,000 after acquiring an additional 1,858 shares during the last quarter. Institutional investors own 24.26% 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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