Dougherty & Co Reiterates “Neutral” Rating for GoPro Inc. (GPRO)
GoPro Inc. (NASDAQ:GPRO)‘s stock had its “neutral” rating restated by research analysts at Dougherty & Co in a research note issued to investors on Friday.
A number of other equities research analysts have also recently issued reports on the stock. Hilliard Lyons cut shares of GoPro to a “neutral” rating in a report on Thursday, November 10th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of GoPro in a report on Thursday, November 10th. Piper Jaffray Cos. set a $9.00 price objective on shares of GoPro and gave the stock a “sell” rating in a report on Wednesday, November 9th. Raymond James Financial Inc. cut shares of GoPro from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 9th. Finally, Wedbush cut shares of GoPro from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $12.00 to $9.00 in a report on Wednesday, November 9th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. GoPro has a consensus rating of “Hold” and a consensus target price of $13.70.
GoPro (NASDAQ:GPRO) opened at 10.35 on Friday. The company has a 50-day moving average price of $14.07 and a 200-day moving average price of $12.62. GoPro has a 1-year low of $8.62 and a 1-year high of $22.95. The firm’s market capitalization is $1.45 billion.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.35) by $0.25. GoPro had a negative net margin of 31.23% and a negative return on equity of 49.53%. The company had revenue of $240.57 million for the quarter, compared to analysts’ expectations of $315.89 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The company’s revenue was down 39.9% on a year-over-year basis. On average, equities research analysts predict that GoPro will post ($1.48) 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 shares were sold at an average price of $15.12, for a total transaction of $10,584,000.00. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the sale, the president now directly owns 398,137 shares in the company, valued at $5,637,619.92. The disclosure for this sale can be found here. Insiders own 28.69% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GPRO. Advisor Group Inc. bought a new stake in GoPro during the second quarter valued at approximately $100,000. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of GoPro during the third quarter valued at $109,000. Emerald Acquisition Ltd. acquired a new position in shares of GoPro during the second quarter valued at $111,000. Penserra Capital Management LLC raised 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 in the last quarter. Finally, MSI Financial Services Inc raised 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 in the last quarter. 30.18% of the stock is currently owned by institutional investors and hedge funds.
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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