GoPro Inc. (GPRO) Given a $9.00 Price Target at Piper Jaffray Cos.
GoPro Inc. (NASDAQ:GPRO) received a $9.00 target price from stock analysts at Piper Jaffray Cos. in a research note issued on Thursday. The firm presently has a a “sell” rating on the stock. Piper Jaffray Cos.’s price target would indicate a potential downside of 37.06% from the company’s current price.
GPRO has been the topic of several other research reports. Zacks Investment Research raised GoPro from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, September 27th. Dougherty & Co reaffirmed a “positive” rating on shares of GoPro in a research note on Wednesday, September 7th. Vetr raised GoPro from a “buy” rating to a “strong-buy” rating and set a $17.43 price target on the stock in a research note on Monday, August 22nd. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of GoPro in a research note on Tuesday, September 13th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $14.00 price target (up previously from $12.50) on shares of GoPro in a research note on Thursday, September 22nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.94.
Shares of GoPro (NASDAQ:GPRO) traded down 3.92% during midday trading on Thursday, reaching $13.74. The company had a trading volume of 8,314,433 shares. The company’s market capitalization is $1.92 billion. GoPro has a 52 week low of $8.62 and a 52 week high of $31.33. The company’s 50 day moving average price is $15.18 and its 200-day moving average price is $12.61.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.52) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.06. GoPro had a negative return on equity of 27.52% and a negative net margin of 17.31%. The business had revenue of $220.80 million for the quarter, compared to analyst estimates of $194.37 million. During the same quarter in the prior year, the company posted $0.35 EPS. The company’s quarterly revenue was down 47.4% on a year-over-year basis. On average, equities research analysts predict that GoPro will post ($1.07) earnings per share for the current fiscal year.
In other news, Director Edward A. Gilhuly sold 700,000 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $15.12, for a total transaction of $10,584,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anthony John Bates sold 9,704 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $14.16, for a total value of $137,408.64. Following the transaction, the president now directly owns 398,137 shares of the company’s stock, valued at $5,637,619.92. The disclosure for this sale can be found here. Company insiders own 28.69% of the company’s stock.
Several institutional investors have recently modified their holdings of GPRO. Nisa Investment Advisors L.L.C. acquired a new position in shares of GoPro during the first quarter worth about $300,000. Motley Fool Wealth Management LLC increased its position in shares of GoPro by 1.9% in the first quarter. Motley Fool Wealth Management LLC now owns 156,531 shares of the company’s stock worth $1,872,000 after buying an additional 2,889 shares during the period. OMERS ADMINISTRATION Corp increased its position in shares of GoPro by 17.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 229,300 shares of the company’s stock worth $2,742,000 after buying an additional 34,500 shares during the period. Scotia Capital Inc. increased its position in shares of GoPro by 427.0% in the first quarter. Scotia Capital Inc. now owns 11,250 shares of the company’s stock worth $135,000 after buying an additional 14,690 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of GoPro during the first quarter worth about $220,000. 28.46% of the stock is owned by institutional investors and hedge funds.
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.
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