Morgan Stanley Boosts GoPro, Inc. (GPRO) Price Target to $9.50
GoPro, Inc. (NASDAQ:GPRO) had its target price upped by Morgan Stanley from $8.50 to $9.50 in a research report report published on Friday morning. They currently have an equal weight rating on the stock.
GPRO has been the topic of several other reports. Vetr upgraded GoPro from a buy rating to a strong-buy rating and set a $9.04 price objective on the stock in a report on Tuesday, July 18th. J P Morgan Chase & Co restated an overweight rating and set a $13.00 price objective on shares of GoPro in a report on Saturday, August 26th. Dougherty & Co restated a sell rating and set a $5.00 price objective on shares of GoPro in a report on Wednesday, July 5th. ValuEngine upgraded GoPro from a strong sell rating to a sell rating in a report on Friday, June 2nd. Finally, BidaskClub downgraded GoPro from a hold rating to a sell rating in a report on Saturday, August 19th. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. GoPro currently has a consensus rating of Hold and an average target price of $8.75.
Shares of GoPro (NASDAQ GPRO) opened at 10.26 on Friday. The company’s 50 day moving average price is $9.08 and its 200 day moving average price is $8.61. GoPro has a 52-week low of $7.14 and a 52-week high of $17.68. The company’s market capitalization is $1.39 billion.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.20. GoPro had a negative return on equity of 41.52% and a negative net margin of 27.88%. The firm had revenue of $296.52 million for the quarter, compared to the consensus estimate of $268.94 million. During the same period in the prior year, the business posted ($0.52) earnings per share. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. On average, analysts predict that GoPro will post ($0.05) EPS for the current year.
In other news, Director Anthony John Bates sold 25,529 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $10.17, for a total value of $259,629.93. Following the completion of the sale, the director now owns 116,482 shares of the company’s stock, valued at approximately $1,184,621.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.69% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new stake in GoPro during the 1st quarter worth about $113,000. Engineers Gate Manager LP acquired a new stake in GoPro during the 1st quarter worth about $118,000. Amalgamated Bank lifted its position in GoPro by 14.6% during the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock worth $118,000 after acquiring an additional 1,858 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in GoPro by 195.5% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,250 shares of the company’s stock worth $132,000 after acquiring an additional 10,750 shares during the period. Finally, Concourse Capital Management LLC acquired a new stake in GoPro during the 1st quarter worth about $155,000. 24.40% of the stock is owned by hedge funds and other institutional investors.
GoPro Company Profile
GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.
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