Morgan Stanley set a $9.00 price target on GoPro, Inc. (NASDAQ:GPRO) in a research report released on Saturday, August 5th. The firm currently has a hold rating on the stock.
Several other brokerages have also recently issued reports on GPRO. J P Morgan Chase & Co reaffirmed a buy rating on shares of GoPro in a research note on Friday, August 4th. Raymond James Financial, Inc. raised GoPro from an underperform rating to a market perform rating in a research note on Friday, August 4th. Longbow Research raised GoPro from an underperform rating to a neutral rating and set a $7.00 target price on the stock in a research note on Friday, August 4th. BidaskClub raised GoPro from a strong sell rating to a sell rating in a research note on Thursday, August 3rd. Finally, Cowen and Company reissued a hold rating and set a $8.50 target price on shares of GoPro in a research note on Thursday, August 3rd. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $8.47.
GoPro (GPRO) traded down 2.90% on Friday, hitting $9.05. 4,398,243 shares of the company were exchanged. GoPro has a 52 week low of $7.14 and a 52 week high of $17.68. The stock’s market capitalization is $1.23 billion. The company has a 50 day moving average price of $8.61 and a 200-day moving average price of $8.65.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.14) EPS for the quarter, beating the Zacks’ 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 business had revenue of $296.52 million during the quarter, compared to analysts’ expectations of $268.94 million. During the same period in the previous year, the business earned ($0.52) earnings per share. The business’s revenue was up 34.3% compared to the same quarter last year. On average, equities analysts expect that GoPro will post ($0.05) earnings per share for the current fiscal year.
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In other GoPro news, Director Anthony John Bates sold 41,076 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total transaction of $348,735.24. Following the completion of the sale, the director now owns 142,011 shares of the company’s stock, valued at $1,205,673.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 28.69% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPRO. Vanguard Group Inc. boosted its position in GoPro by 6.7% in the second quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock valued at $57,672,000 after buying an additional 444,109 shares during the period. Capital Fund Management S.A. boosted its position in GoPro by 338.7% in the second quarter. Capital Fund Management S.A. now owns 456,870 shares of the company’s stock valued at $3,714,000 after buying an additional 352,740 shares during the period. Menta Capital LLC acquired a new position in GoPro during the first quarter valued at approximately $1,907,000. Wells Fargo & Company MN boosted its position in GoPro by 266.1% in the second quarter. Wells Fargo & Company MN now owns 292,349 shares of the company’s stock valued at $2,376,000 after buying an additional 212,486 shares during the period. Finally, Engineers Gate Manager LP raised its stake in shares of GoPro by 1,324.2% in the second quarter. Engineers Gate Manager LP now owns 193,688 shares of the company’s stock valued at $1,575,000 after buying an additional 180,088 shares in the last quarter. Institutional investors and hedge funds own 25.12% of the company’s stock.
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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