Zacks Investment Research downgraded shares of GoPro Inc. (NASDAQ:GPRO) from a buy rating to a hold rating in a research report released on Monday morning.

According to Zacks, “GoPro recently unveiled its first drone – Karma, and also launched the first significant update to its flagship line of action cameras in two years — the new Hero5 camera, and the smaller, cube-shaped Hero5 Session. We believe that the interesting product lineup will boost revenues for the company. GoPro is making strategic investments in talent, technology, software and innovative products for quite some time now. The company has done a great job of clearing out channel inventory and streamlining its product portfolio. However, GoPro has had a dismal earnings history, having missed earnings thrice in the trailing four quarters. The mispricing of its Hero4 Session, slowing demand for its Hero gadgets and rising operating expenses drove quarterly losses. Stiff competition and ongoing sluggishness in the wearable camera market indicate challenging times ahead for GoPro.”

Other equities analysts have also issued reports about the company. Bank of America Corp. reissued a buy rating and set a $19.00 price objective on shares of GoPro in a report on Wednesday, September 28th. BlueFin Research reissued an add rating on shares of GoPro in a report on Monday, September 26th. Oppenheimer Holdings Inc. reissued a market perform rating on shares of GoPro in a report on Friday, September 23rd. Robert W. Baird reissued a neutral rating and set a $10.00 price objective on shares of GoPro in a report on Thursday, September 22nd. Finally, Goldman Sachs Group Inc. reissued a neutral rating and set a $14.00 price objective (up from $12.50) on shares of GoPro in a report on Thursday, September 22nd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $15.94.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

GoPro (NASDAQ:GPRO) traded up 2.3823% during mid-day trading on Monday, hitting $17.1388. The stock had a trading volume of 1,132,125 shares. The firm’s 50-day moving average price is $15.04 and its 200-day moving average price is $12.44. The stock’s market cap is $2.39 billion. GoPro has a 1-year low of $8.62 and a 1-year high of $31.95.

GoPro (NASDAQ:GPRO) last released its earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.06. The company earned $220.80 million during the quarter, compared to analyst estimates of $194.37 million. GoPro had a negative return on equity of 27.52% and a negative net margin of 17.31%. GoPro’s quarterly revenue was down 47.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, equities analysts expect that GoPro will post ($1.07) earnings per share for the current year.

In other news, President Anthony John Bates sold 9,704 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the completion of the sale, the president now owns 398,137 shares of the company’s stock, valued at approximately $5,637,619.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael E. Marks sold 40,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $15.58, for a total transaction of $623,200.00. The disclosure for this sale can be found here. Insiders own 28.69% of the company’s stock.

Several large investors have recently modified their holdings of GPRO. Advisor Group Inc. acquired a new stake in shares of GoPro during the second quarter worth about $100,000. Emerald Acquisition Ltd. acquired a new stake in shares of GoPro during the second quarter worth about $111,000. Penserra Capital Management LLC increased its stake in shares of GoPro by 42.9% in the second quarter. Penserra Capital Management LLC now owns 10,533 shares of the company’s stock worth $114,000 after buying an additional 3,164 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of GoPro during the first quarter worth about $117,000. Finally, Marathon Trading Investment Management LLC increased its stake in shares of GoPro by 114.1% in the first quarter. Marathon Trading Investment Management LLC now owns 10,000 shares of the company’s stock worth $120,000 after buying an additional 80,800 shares during the last quarter. 28.46% of the stock is owned by hedge funds and other institutional investors.

About GoPro

GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.

5 Day Chart for NASDAQ:GPRO

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