FBN Securities Reiterates “Sector Perform” Rating for GoPro Inc. (GPRO)
GoPro Inc. (NASDAQ:GPRO)‘s stock had its “sector perform” rating reiterated by investment analysts at FBN Securities in a research note issued on Wednesday. They currently have a $10.50 target price on the stock, down from their previous target price of $11.00. FBN Securities’ price target points to a potential upside of 6.82% from the company’s current price.
A number of other analysts have also weighed in on the stock. Vetr upgraded shares of GoPro from a “buy” rating to a “strong-buy” rating and set a $11.04 target price on the stock in a research report on Wednesday. Dougherty & Co lowered shares of GoPro from a “neutral” rating to a “sell” rating and set a $6.00 target price on the stock. in a research report on Wednesday, November 9th. Piper Jaffray Cos. restated an “underweight” rating and issued a $9.00 target price on shares of GoPro in a research report on Tuesday, November 1st. Raymond James Financial Inc. lowered shares of GoPro from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 9th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $10.00 target price on shares of GoPro in a research report on Sunday, November 6th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, three have given 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 target price of $13.20.
Shares of GoPro (NASDAQ:GPRO) opened at 9.83 on Wednesday. The firm’s market capitalization is $1.38 billion. The company’s 50-day moving average price is $12.22 and its 200-day moving average price is $12.59. GoPro has a 52-week low of $8.62 and a 52-week high of $20.60.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.25. The firm had revenue of $240.57 million for the quarter, compared to analyst estimates of $315.89 million. GoPro had a negative return on equity of 49.53% and a negative net margin of 31.23%. The business’s revenue was down 39.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. On average, equities research analysts expect that GoPro will post ($1.48) EPS for the current fiscal year.
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In other GoPro news, President Anthony John Bates sold 9,704 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were 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 in the company, valued at $5,637,619.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Mcgee sold 4,497 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $10.32, for a total transaction of $46,409.04. Following the completion of the transaction, the chief financial officer now owns 51,250 shares in the company, valued at $528,900. The disclosure for this sale can be found here. Corporate insiders own 28.69% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in GoPro by 50.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 38,915 shares of the company’s stock worth $649,000 after buying an additional 13,000 shares during the last quarter. LPL Financial LLC boosted its position in GoPro by 5.9% in the third quarter. LPL Financial LLC now owns 68,702 shares of the company’s stock worth $1,160,000 after buying an additional 3,831 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in GoPro by 0.6% in the third quarter. Cetera Advisor Networks LLC now owns 10,223 shares of the company’s stock worth $171,000 after buying an additional 65 shares during the last quarter. Doheny Asset Management CA bought a new position in GoPro during the third quarter worth $904,000. Finally, BTG Pactual Global Asset Management Ltd bought a new position in GoPro during the third quarter worth $2,648,000. Hedge funds and other institutional investors own 32.87% 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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