GoPro Inc. (GPRO) Receives “Overweight” Rating from JPMorgan Chase & Co.
JPMorgan Chase & Co. reissued their overweight rating on shares of GoPro Inc. (NASDAQ:GPRO) in a research report released on Saturday. JPMorgan Chase & Co. currently has a $16.00 price target on the stock.
GPRO has been the topic of several other research reports. Piper Jaffray Cos. set a $6.50 price target on shares of GoPro and gave the stock a sell rating in a report on Thursday, July 28th. Oppenheimer Holdings Inc. reaffirmed a market perform rating on shares of GoPro in a report on Tuesday, September 13th. Bank of America Corp. reaffirmed a buy rating and issued a $19.00 price target on shares of GoPro in a report on Wednesday, September 28th. Raymond James Financial Inc. reaffirmed an outperform rating on shares of GoPro in a report on Friday. Finally, FBN Securities set a $15.00 price target on shares of GoPro and gave the stock a hold rating in a report on Monday, September 19th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $15.89.
GoPro (NASDAQ:GPRO) traded down 1.73% during midday trading on Friday, hitting $13.60. The company had a trading volume of 6,852,149 shares. The firm’s 50 day moving average is $15.11 and its 200-day moving average is $12.63. The firm’s market capitalization is $1.90 billion. GoPro has a 52 week low of $8.62 and a 52 week high of $31.33.
GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.06. The firm had revenue of $220.80 million for the quarter, compared to analysts’ expectations of $194.37 million. GoPro had a negative net margin of 17.31% and a negative return on equity of 27.52%. The business’s quarterly revenue was down 47.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. On average, equities research analysts expect that GoPro will post ($1.07) EPS for the current fiscal year.
In other news, Director Edward A. Gilhuly sold 700,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $15.12, for a total value of $10,584,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Anthony John Bates sold 9,704 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was 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 in the company, valued at $5,637,619.92. The disclosure for this sale can be found here. 28.69% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of GPRO. Advisor Group Inc. acquired a new stake in GoPro during the second quarter worth $100,000. Emerald Acquisition Ltd. purchased a new position in shares of GoPro during the second quarter valued at approximately $111,000. Penserra Capital Management LLC increased its position 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 valued at $114,000 after buying an additional 3,164 shares during the last quarter. MSI Financial Services Inc increased its position in shares of GoPro by 42.9% in the third quarter. MSI Financial Services Inc now owns 6,812 shares of the company’s stock valued at $114,000 after buying an additional 2,044 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in shares of GoPro during the first quarter valued at approximately $117,000. Hedge funds and other institutional investors own 28.46% of the company’s stock.
GoPro Company Profile
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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