GoPro, Inc. (GPRO) Updates Q4 Earnings Guidance

GoPro, Inc. (NASDAQ:GPRO) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.37-0.47 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.57.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.20. The business had revenue of $296.52 million for the quarter, compared to analysts’ expectations of $268.94 million. GoPro had a negative net margin of 17.52% and a negative return on equity of 15.53%. The business’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.52) earnings per share.

A number of analysts have commented on the stock. Citigroup Inc. cut their price target on shares of GoPro from $11.00 to $10.00 and set a neutral rating on the stock in a research report on Thursday. Bank of America Corporation upped their price target on shares of GoPro from $8.00 to $9.00 and gave the company an underperform rating in a research report on Tuesday. Wedbush reaffirmed a neutral rating on shares of GoPro in a research report on Thursday, October 26th. Vetr raised shares of GoPro from a sell rating to a strong-buy rating and set a $11.55 price target on the stock in a research report on Thursday, October 19th. Finally, Longbow Research raised shares of GoPro from a neutral rating to a buy rating and upped their price target for the company from $9.60 to $13.00 in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $9.67.

In other GoPro news, Director Anthony John Bates sold 25,529 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $10.17, for a total value of $259,629.93. Following the completion of the sale, the director now owns 116,482 shares in the company, valued at approximately $1,184,621.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Charles J. Prober sold 24,918 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $11.00, for a total transaction of $274,098.00. Following the completion of the sale, the chief operating officer now owns 148,493 shares of the company’s stock, valued at approximately $1,633,423. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,344 shares of company stock valued at $542,205. Company insiders own 28.58% 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.

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