GoPro Inc (GPRO) Given “Underperform” Rating at Robert W. Baird

Robert W. Baird reissued their underperform rating on shares of GoPro Inc (NASDAQ:GPRO) in a research report sent to investors on Friday. Robert W. Baird currently has a $6.00 price target on the stock.

A number of other research firms have also recently weighed in on GPRO. Stifel Nicolaus reissued a hold rating and issued a $9.00 price target (down from $10.00) on shares of GoPro in a report on Thursday. Wedbush set a $9.00 price target on GoPro and gave the stock a hold rating in a report on Wednesday, February 8th. Dougherty & Co reissued a sell rating and issued a $6.00 price target on shares of GoPro in a report on Tuesday, December 13th. Zacks Investment Research cut GoPro from a hold rating to a sell rating in a report on Monday, January 30th. Finally, Pacific Crest reissued a hold rating on shares of GoPro in a report on Tuesday, January 24th. Eight investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $10.24.

Shares of GoPro (NASDAQ:GPRO) traded down 0.93% during trading on Friday, reaching $8.49. The company had a trading volume of 1,150,638 shares. The firm’s market capitalization is $1.21 billion. GoPro has a 52 week low of $7.14 and a 52 week high of $17.68. The firm has a 50-day moving average of $9.09 and a 200 day moving average of $11.18.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Thursday, February 2nd. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. GoPro had a negative return on equity of 44.14% and a negative net margin of 35.35%. The company earned $540.62 million during the quarter, compared to analysts’ expectations of $585.31 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities research analysts forecast that GoPro will post ($0.17) earnings per share for the current year.

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In other news, General Counsel Sharon S. Zezima sold 6,297 shares of the company’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $9.16, for a total value of $57,680.52. Following the completion of the sale, the general counsel now owns 70,662 shares of the company’s stock, valued at $647,263.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anthony John Bates sold 41,077 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $8.19, for a total value of $336,420.63. Following the completion of the sale, the director now directly owns 208,617 shares of the company’s stock, valued at approximately $1,708,573.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,668 shares of company stock valued at $738,432. 28.69% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of GoPro during the third quarter valued at $109,000. MSI Financial Services Inc increased its stake 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 during the last quarter. Seven Eight Capital LP bought a new stake in shares of GoPro during the fourth quarter valued at $118,000. NEXT Financial Group Inc increased its stake in shares of GoPro by 73.5% in the third quarter. NEXT Financial Group Inc now owns 7,175 shares of the company’s stock valued at $120,000 after buying an additional 3,040 shares during the last quarter. Finally, Allianz Asset Management AG bought a new stake in shares of GoPro during the fourth quarter valued at $124,000. 33.16% of the stock is owned by institutional investors.

About GoPro

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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