GoPro (GPRO) Lowered to Buy at BidaskClub

GoPro (NASDAQ:GPRO) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.

GPRO has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of GoPro from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. ValuEngine raised shares of GoPro from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Wedbush reaffirmed a “neutral” rating and set a $6.00 target price on shares of GoPro in a research note on Thursday, January 31st. Finally, Longbow Research reaffirmed a “hold” rating on shares of GoPro in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $6.72.

Shares of NASDAQ GPRO opened at $6.28 on Tuesday. GoPro has a fifty-two week low of $4.00 and a fifty-two week high of $7.60. The company has a market cap of $961.60 million, a price-to-earnings ratio of -13.65, a price-to-earnings-growth ratio of 9.82 and a beta of 0.74. The company has a quick ratio of 1.19, a current ratio of 1.58 and a debt-to-equity ratio of 0.66.

GoPro (NASDAQ:GPRO) last announced its earnings results on Wednesday, February 6th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.06. GoPro had a negative net margin of 9.49% and a negative return on equity of 34.77%. The business had revenue of $377.38 million during the quarter, compared to the consensus estimate of $374.28 million. During the same quarter last year, the firm earned ($0.30) earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, sell-side analysts anticipate that GoPro will post 0.06 EPS for the current year.

In related news, CFO Brian Mcgee sold 19,526 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $6.04, for a total transaction of $117,937.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas Woodman sold 1,400,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $5.94, for a total transaction of $8,316,000.00. The disclosure for this sale can be found here. Insiders have sold 2,819,526 shares of company stock valued at $17,561,937 in the last ninety days. Insiders own 26.61% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of GoPro by 3.3% during the third quarter. Vanguard Group Inc. now owns 9,942,143 shares of the company’s stock valued at $71,584,000 after acquiring an additional 318,197 shares in the last quarter. Vanguard Group Inc increased its position in shares of GoPro by 3.3% during the third quarter. Vanguard Group Inc now owns 9,942,143 shares of the company’s stock valued at $71,584,000 after acquiring an additional 318,197 shares in the last quarter. Versant Capital Management Inc increased its position in shares of GoPro by 36.6% during the fourth quarter. Versant Capital Management Inc now owns 16,398 shares of the company’s stock valued at $69,000 after acquiring an additional 4,395 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of GoPro by 1.8% during the third quarter. Wells Fargo & Company MN now owns 590,514 shares of the company’s stock valued at $4,251,000 after acquiring an additional 10,471 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of GoPro during the fourth quarter valued at approximately $44,000. 41.05% of the stock is owned by 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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Analyst Recommendations for GoPro (NASDAQ:GPRO)

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