GoPro (GPRO) Upgraded at BidaskClub

GoPro (NASDAQ:GPRO) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their price objective on GoPro from $7.50 to $8.00 in a report on Friday, May 10th. Zacks Investment Research raised GoPro from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a report on Friday, February 8th. Wedbush set a $8.00 price objective on GoPro and gave the company a “hold” rating in a report on Friday, May 10th. ValuEngine raised GoPro from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Finally, Longbow Research reaffirmed a “hold” rating on shares of GoPro in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $7.09.

NASDAQ GPRO traded up $0.17 during trading on Wednesday, reaching $7.55. 10,055,806 shares of the company traded hands, compared to its average volume of 4,225,973. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -16.41, a PEG ratio of 10.20 and a beta of 0.69. GoPro has a 1-year low of $4.00 and a 1-year high of $7.64.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The company had revenue of $243.00 million for the quarter, compared to the consensus estimate of $234.41 million. GoPro had a negative return on equity of 15.82% and a negative net margin of 4.80%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) earnings per share. On average, analysts predict that GoPro will post 0.06 earnings per share for the current year.

In other news, CEO Nicholas Woodman sold 342,679 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $5.91, for a total value of $2,025,232.89. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brian Mcgee sold 19,526 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $6.04, for a total value of $117,937.04. The disclosure for this sale can be found here. Insiders sold a total of 3,721,428 shares of company stock worth $22,957,127 over the last three months. 26.61% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc lifted its holdings in GoPro by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 9,942,143 shares of the company’s stock worth $71,584,000 after buying an additional 318,197 shares in the last quarter. Vanguard Group Inc. lifted its holdings in GoPro by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,942,143 shares of the company’s stock worth $71,584,000 after buying an additional 318,197 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in GoPro by 21.6% during the 1st quarter. Renaissance Technologies LLC now owns 6,003,800 shares of the company’s stock worth $39,025,000 after buying an additional 1,068,400 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in GoPro by 1,407.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,894,661 shares of the company’s stock worth $12,272,000 after buying an additional 2,702,700 shares in the last quarter. Finally, Spark Investment Management LLC lifted its holdings in GoPro by 90.5% during the 1st quarter. Spark Investment Management LLC now owns 2,383,800 shares of the company’s stock worth $15,494,000 after buying an additional 1,132,700 shares in the last quarter. 42.97% of the stock is currently owned by institutional investors and hedge funds.

GoPro Company Profile

GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers HERO7, a cloud-connected line of camera; 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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