GoPro, Inc. (NASDAQ:GPRO) was downgraded by Vetr from a “hold” rating to a “strong sell” rating in a research report issued on Monday, August 7th. They currently have a $8.02 price target on the stock. Vetr‘s price target suggests a potential downside of 11.38% from the company’s previous close.
GPRO has been the subject of several other research reports. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of GoPro in a research report on Monday, May 1st. Morgan Stanley raised shares of GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price objective for the company in a research report on Monday, July 31st. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “hold” rating and issued a $9.00 price objective on shares of GoPro in a research report on Saturday, April 29th. Dougherty & Co reaffirmed a “sell” rating and issued a $5.00 price objective on shares of GoPro in a research report on Wednesday, July 5th. Finally, ValuEngine raised shares of GoPro from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $8.47.
Shares of GoPro (NASDAQ:GPRO) traded down 2.90% on Monday, reaching $9.05. 4,398,963 shares of the company were exchanged. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. The company has a 50-day moving average price of $8.63 and a 200 day moving average price of $8.64. The stock’s market capitalization is $1.23 billion.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings data 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. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The company had revenue of $296.52 million during the quarter, compared to the consensus estimate of $268.94 million. During the same quarter last year, the company earned ($0.52) earnings per share. GoPro’s revenue for the quarter was up 34.3% on a year-over-year basis. On average, analysts forecast that GoPro will post ($0.05) EPS for the current fiscal year.
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In other GoPro news, Director Anthony John Bates sold 41,076 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total value of $348,735.24. Following the sale, the director now directly owns 142,011 shares in the company, valued at $1,205,673.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 28.69% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in GoPro by 3.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock worth $183,000 after buying an additional 695 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in GoPro by 25.9% in the first quarter. Parametric Portfolio Associates LLC now owns 49,887 shares of the company’s stock worth $434,000 after buying an additional 10,264 shares during the last quarter. Engineers Gate Manager LP bought a new stake in GoPro during the first quarter worth about $118,000. First Eagle Investment Management LLC boosted its stake in GoPro by 0.9% in the first quarter. First Eagle Investment Management LLC now owns 547,200 shares of the company’s stock worth $4,761,000 after buying an additional 5,000 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in GoPro by 33.6% in the first quarter. UBS Asset Management Americas Inc. now owns 52,076 shares of the company’s stock worth $453,000 after buying an additional 13,106 shares during the last quarter. Institutional investors own 25.12% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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