Zacks: Brokerages Expect GoPro Inc (NASDAQ:GPRO) Will Post Quarterly Sales of $102.16 Million

Wall Street analysts forecast that GoPro Inc (NASDAQ:GPRO) will post sales of $102.16 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for GoPro’s earnings. The highest sales estimate is $125.60 million and the lowest is $90.00 million. GoPro posted sales of $292.43 million in the same quarter last year, which suggests a negative year over year growth rate of 65.1%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 6th.

On average, analysts expect that GoPro will report full-year sales of $685.75 million for the current year, with estimates ranging from $637.40 million to $749.00 million. For the next year, analysts expect that the company will post sales of $777.69 million, with estimates ranging from $736.77 million to $838.30 million. Zacks’ sales averages are an average based on a survey of analysts that follow GoPro.

GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.34). The firm had revenue of $119.40 million for the quarter, compared to analyst estimates of $119.10 million. GoPro had a negative return on equity of 19.12% and a negative net margin of 5.02%. GoPro’s revenue was down 50.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS.

A number of research analysts recently issued reports on the company. Wedbush raised their price target on GoPro from $2.50 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Morgan Stanley raised their price target on GoPro from $2.20 to $2.50 and gave the stock an “underweight” rating in a research note on Friday, May 8th. BidaskClub upgraded GoPro from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 25th. Citigroup downgraded GoPro from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.50 to $2.50 in a research note on Monday, March 16th. Finally, Zacks Investment Research downgraded GoPro from a “buy” rating to a “hold” rating and set a $4.75 target price on the stock. in a research note on Friday, May 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $4.05.

GPRO opened at $4.70 on Tuesday. GoPro has a one year low of $2.00 and a one year high of $5.95. The company has a market cap of $716.96 million, a P/E ratio of -12.69 and a beta of 1.45. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.94 and a current ratio of 1.74. The business’s 50-day simple moving average is $4.38 and its 200-day simple moving average is $3.82.

Hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in GoPro during the fourth quarter worth $46,000. RFG Advisory LLC purchased a new position in GoPro during the first quarter worth $28,000. Prudential Financial Inc. purchased a new position in GoPro during the fourth quarter worth $57,000. US Bancorp DE increased its position in GoPro by 66.2% during the first quarter. US Bancorp DE now owns 13,457 shares of the company’s stock worth $35,000 after buying an additional 5,361 shares in the last quarter. Finally, Castle Rock Wealth Management LLC increased its position in GoPro by 26.1% during the first quarter. Castle Rock Wealth Management LLC now owns 14,500 shares of the company’s stock worth $55,000 after buying an additional 3,000 shares in the last quarter. 48.18% of the stock is owned by hedge funds and other institutional investors.

GoPro Company Profile

GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers HERO7, a cloud-connected line of camera; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

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