GoPro, Inc. (GPRO) Price Target Cut to $10.00 by Analysts at Citigroup Inc.

GoPro, Inc. (NASDAQ:GPRO) had its price target decreased by Citigroup Inc. from $11.00 to $10.00 in a research report report published on Thursday morning. Citigroup Inc. currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on GPRO. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of GoPro in a research note on Friday, September 29th. BidaskClub raised shares of GoPro from a sell rating to a hold rating in a research note on Wednesday, August 9th. Raymond James Financial, Inc. upgraded shares of GoPro from an underperform rating to a market perform rating in a report on Friday, August 4th. Bank of America Corporation lifted their price objective on shares of GoPro from $8.00 to $9.00 and gave the company an underperform rating in a report on Tuesday, October 31st. Finally, Cowen and Company reiterated a hold rating and issued a $8.50 price objective on shares of GoPro in a report on Thursday, August 3rd. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $9.68.

GoPro (NASDAQ:GPRO) traded down $0.18 during trading on Thursday, reaching $8.96. 6,346,038 shares of the company traded hands, compared to its average volume of 7,330,000. GoPro has a twelve month low of $7.14 and a twelve month high of $12.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.66.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.20. GoPro had a negative net margin of 17.52% and a negative return on equity of 15.53%. The business had revenue of $296.52 million for the quarter, compared to analyst estimates of $268.94 million. During the same quarter last year, the firm earned ($0.52) EPS. GoPro’s quarterly revenue was up 34.3% compared to the same quarter last year. analysts expect that GoPro will post -0.32 EPS for the current fiscal year.

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In related news, Director Anthony John Bates sold 25,529 shares of the company’s stock in a transaction dated 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 sale, the director now owns 116,482 shares of the company’s stock, valued at $1,184,621.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles J. Prober sold 24,918 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $11.00, for a total transaction of $274,098.00. Following the sale, the chief operating officer now directly owns 148,493 shares of the company’s stock, valued at approximately $1,633,423. The disclosure for this sale can be found here. Insiders have sold 51,344 shares of company stock valued at $542,205 in the last ninety days. 28.58% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in GoPro by 6.7% during the second quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock worth $57,672,000 after acquiring an additional 444,109 shares in the last quarter. State Street Corp raised its stake in GoPro by 6.7% during the second quarter. State Street Corp now owns 1,914,069 shares of the company’s stock worth $15,563,000 after acquiring an additional 120,250 shares in the last quarter. Geode Capital Management LLC raised its stake in GoPro by 9.6% during the first quarter. Geode Capital Management LLC now owns 804,345 shares of the company’s stock worth $6,997,000 after acquiring an additional 70,449 shares in the last quarter. JPMorgan Chase & Co. raised its stake in GoPro by 2.2% during the second quarter. JPMorgan Chase & Co. now owns 573,002 shares of the company’s stock worth $4,658,000 after acquiring an additional 12,530 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in GoPro by 22.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 556,863 shares of the company’s stock worth $4,528,000 after acquiring an additional 101,157 shares in the last quarter. 24.26% of the stock is owned by hedge funds and other institutional investors.

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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