GoPro’s (GPRO) “Hold” Rating Reiterated at Longbow Research

Longbow Research reiterated their hold rating on shares of GoPro (NASDAQ:GPRO) in a research note released on Friday.

GPRO has been the subject of a number of other reports. Wedbush restated a neutral rating and set a $6.00 price objective on shares of GoPro in a report on Friday, July 27th. ValuEngine downgraded GoPro from a sell rating to a strong sell rating in a report on Monday, July 30th. BidaskClub upgraded GoPro from a buy rating to a strong-buy rating in a report on Wednesday, June 13th. Zacks Investment Research downgraded GoPro from a buy rating to a hold rating in a report on Tuesday, July 3rd. Finally, Cowen restated a hold rating and set a $6.00 price objective on shares of GoPro in a report on Friday, August 3rd. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $6.98.

Shares of GPRO opened at $6.46 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. GoPro has a fifty-two week low of $4.42 and a fifty-two week high of $11.89.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Thursday, August 2nd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. The business had revenue of $282.70 million during the quarter, compared to the consensus estimate of $270.27 million. GoPro had a negative return on equity of 47.64% and a negative net margin of 13.47%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) EPS.

In other news, CFO Brian Mcgee sold 5,452 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $5.86, for a total transaction of $31,948.72. Following the completion of the sale, the chief financial officer now directly owns 108,411 shares in the company, valued at approximately $635,288.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 26.61% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GPRO. Raymond James Financial Services Advisors Inc. purchased a new stake in GoPro during the 2nd quarter worth $172,000. BB&T Securities LLC purchased a new stake in GoPro during the 2nd quarter worth $233,000. Koch Industries Inc. purchased a new stake in GoPro during the 1st quarter worth $296,000. Trexquant Investment LP purchased a new stake in GoPro during the 2nd quarter worth $336,000. Finally, MetLife Investment Advisors LLC boosted its position in GoPro by 71.1% during the 2nd quarter. MetLife Investment Advisors LLC now owns 53,260 shares of the company’s stock worth $343,000 after purchasing an additional 22,137 shares during the period. 30.88% of the stock is owned by hedge funds and other institutional investors.

About GoPro

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

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Analyst Recommendations for GoPro (NASDAQ:GPRO)

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