GoPro (GPRO) Cut to Neutral at JPMorgan Chase & Co.

GoPro (NASDAQ:GPRO) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Friday, MarketBeat Ratings reports. They currently have a $8.00 price target on the stock, down from their prior price target of $9.00. JPMorgan Chase & Co.’s price target indicates a potential upside of 44.14% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Longbow Research upgraded GoPro from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.60 to $13.00 in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Zacks Investment Research cut GoPro from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Citigroup cut their target price on GoPro from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Wedbush restated a “neutral” rating on shares of GoPro in a report on Thursday, October 26th. Finally, Dougherty & Co restated a “sell” rating and set a $4.00 price target (down previously from $7.00) on shares of GoPro in a report on Tuesday, January 9th. Eight analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.12.

GoPro (GPRO) traded up $0.05 during trading hours on Friday, hitting $5.55. The company had a trading volume of 8,644,969 shares, compared to its average volume of 6,660,000. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.65 and a quick ratio of 1.08. GoPro has a 12-month low of $5.04 and a 12-month high of $11.89. The stock has a market capitalization of $817.44, a PE ratio of -4.24 and a beta of 0.15.

GoPro (NASDAQ:GPRO) last released its earnings results on Wednesday, November 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. GoPro had a negative return on equity of 39.34% and a negative net margin of 15.50%. The firm had revenue of $329.81 million during the quarter, compared to analysts’ expectations of $314.32 million. research analysts predict that GoPro will post -0.46 EPS for the current year.

In other news, Director Anthony John Bates sold 17,023 shares of GoPro stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $7.98, for a total value of $135,843.54. Following the completion of the transaction, the director now owns 99,459 shares in the company, valued at approximately $793,682.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas Woodman sold 165,343 shares of GoPro stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $9.02, for a total value of $1,491,393.86. The disclosure for this sale can be found here. Insiders have sold a total of 189,907 shares of company stock valued at $1,689,300 in the last 90 days. 28.58% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in GPRO. Fuller & Thaler Asset Management Inc. purchased a new position in shares of GoPro in the 3rd quarter worth approximately $7,495,000. Vanguard Group Inc. boosted its holdings in shares of GoPro by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock worth $57,672,000 after purchasing an additional 444,109 shares during the period. Engineers Gate Manager LP boosted its holdings in shares of GoPro by 1,970.7% in the 4th quarter. Engineers Gate Manager LP now owns 394,560 shares of the company’s stock worth $2,987,000 after purchasing an additional 375,506 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of GoPro by 266.1% in the 2nd quarter. Wells Fargo & Company MN now owns 292,349 shares of the company’s stock worth $2,376,000 after purchasing an additional 212,486 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of GoPro by 25.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 782,705 shares of the company’s stock worth $5,926,000 after purchasing an additional 160,745 shares during the period. Hedge funds and other institutional investors own 26.42% of the company’s stock.

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About GoPro

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.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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