GoPro (GPRO) Rating Lowered to Sell at ValuEngine

GoPro (NASDAQ:GPRO) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

GPRO has been the subject of several other reports. BidaskClub downgraded GoPro from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Wedbush reiterated a “neutral” rating and issued a $6.00 price objective on shares of GoPro in a report on Friday, July 27th. Longbow Research reiterated a “hold” rating on shares of GoPro in a report on Friday, September 21st. Oppenheimer upgraded GoPro from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a report on Wednesday, September 26th. Finally, Cowen reiterated a “hold” rating and issued 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, seven have issued a hold rating and three have issued a buy rating to the company’s stock. GoPro currently has a consensus rating of “Hold” and an average price target of $7.10.

Shares of NASDAQ:GPRO opened at $5.44 on Friday. GoPro has a 1-year low of $4.42 and a 1-year high of $9.60. The firm has a market cap of $805.75 million, a PE ratio of -5.13 and a beta of 0.31. The company has a quick ratio of 1.15, a current ratio of 1.49 and a debt-to-equity ratio of 0.72.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Thursday, November 1st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. GoPro had a negative return on equity of 65.78% and a negative net margin of 17.77%. The company had revenue of $286.00 million during the quarter, compared to the consensus estimate of $272.28 million. During the same period last year, the company earned $0.15 EPS. GoPro’s revenue for the quarter was down 13.3% on a year-over-year basis. On average, sell-side analysts predict that GoPro will post -0.54 EPS for the current fiscal year.

In other GoPro news, CFO Brian Mcgee sold 5,452 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is available at the SEC website. Insiders own 26.61% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in shares of GoPro by 478.8% during the 2nd quarter. Renaissance Technologies LLC now owns 4,496,600 shares of the company’s stock valued at $28,958,000 after purchasing an additional 3,719,700 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in GoPro in the 3rd quarter valued at $15,571,000. BlackRock Inc. grew its position in GoPro by 10.5% in the 2nd quarter. BlackRock Inc. now owns 8,302,325 shares of the company’s stock valued at $53,468,000 after acquiring an additional 785,861 shares during the last quarter. Millennium Management LLC grew its position in GoPro by 1,161.4% in the 2nd quarter. Millennium Management LLC now owns 181,619 shares of the company’s stock valued at $1,170,000 after acquiring an additional 167,221 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in GoPro by 18.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,059,983 shares of the company’s stock valued at $6,827,000 after acquiring an additional 166,661 shares during the last quarter. 30.82% of the stock is currently owned by institutional investors.

GoPro Company Profile

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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