GoPro, Inc. (NASDAQ:GPRO) Upgraded to “Neutral” by Longbow Research

GoPro, Inc. (NASDAQ:GPRO) was upgraded by equities researchers at Longbow Research from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has a $7.00 price objective on the stock. Longbow Research’s price target would suggest a potential downside of 28.93% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. J P Morgan Chase & Co set a $12.00 target price on GoPro and gave the company a “buy” rating in a research note on Sunday, April 30th. Cowen and Company reiterated a “hold” rating and issued a $8.50 target price on shares of GoPro in a research note on Thursday. BidaskClub upgraded GoPro from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research cut GoPro from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Finally, Bank of America Corporation reiterated an “underperform” rating and issued a $7.00 target price (down from $8.00) on shares of GoPro in a research note on Monday, June 5th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $8.28.

Shares of GoPro (NASDAQ GPRO) traded up 19.25% during trading on Friday, reaching $9.85. 28,773,541 shares of the company’s stock traded hands. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. The company’s market capitalization is $1.42 billion. The company has a 50 day moving average of $8.07 and a 200-day moving average of $8.63.

GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.20. The company had revenue of $296.52 million for the quarter, compared to analysts’ expectations of $268.94 million. GoPro had a negative return on equity of 38.52% and a negative net margin of 27.88%. The firm’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period last year, the business posted ($0.52) earnings per share. Equities analysts predict that GoPro will post ($0.12) earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first published by [[site]] and is the property of of [[site]]. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at [[permalink]].

In related news, Director Anthony John Bates sold 41,076 shares of GoPro stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total value of $348,735.24. Following the transaction, the director now owns 142,011 shares of the company’s stock, valued at approximately $1,205,673.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 28.69% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Nomura Holdings Inc. bought a new position in shares of GoPro during the first quarter worth $113,000. Engineers Gate Manager LP bought a new position in shares of GoPro during the first quarter worth $118,000. Financial Architects Inc boosted its position in shares of GoPro by 15.2% in the first quarter. Financial Architects Inc now owns 15,200 shares of the company’s stock worth $132,000 after buying an additional 2,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of GoPro by 195.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,250 shares of the company’s stock worth $132,000 after buying an additional 10,750 shares in the last quarter. Finally, Concourse Capital Management LLC bought a new position in shares of GoPro during the first quarter worth $155,000. 25.31% of the stock is currently 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.