Wedbush Reiterates “Neutral” Rating for GoPro Inc (GPRO)
GoPro Inc (NASDAQ:GPRO)‘s stock had its “neutral” rating restated by stock analysts at Wedbush in a note issued to investors on Friday.
GPRO has been the subject of several other research reports. Piper Jaffray Companies set a $8.00 target price on GoPro and gave the stock a “sell” rating in a research note on Saturday, February 4th. Vetr downgraded GoPro from a “strong-buy” rating to a “buy” rating and set a $10.31 target price for the company. in a research note on Monday, December 5th. FBN Securities restated a “sector perform” rating and issued a $10.50 target price (down previously from $11.00) on shares of GoPro in a research note on Wednesday, November 30th. Citigroup Inc upgraded GoPro from a “sell” rating to a “neutral” rating and set a $9.00 target price for the company in a research note on Thursday, March 16th. Finally, Dougherty & Co restated a “sell” rating and issued a $5.00 target price on shares of GoPro in a research note on Thursday, March 16th. Eight equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. GoPro presently has an average rating of “Hold” and a consensus target price of $10.25.
Shares of GoPro (NASDAQ:GPRO) opened at 8.66 on Friday. The stock has a 50 day moving average of $9.09 and a 200-day moving average of $11.18. The firm’s market capitalization is $1.23 billion. GoPro has a 12-month low of $7.14 and a 12-month high of $17.68.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $0.29 earnings per share for the quarter, topping the 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 analyst estimates of $585.31 million. During the same quarter last year, the firm posted ($0.08) EPS. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities research analysts predict that GoPro will post ($0.17) EPS for the current fiscal year.
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In other news, Director Anthony John Bates sold 41,077 shares of GoPro stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $8.19, for a total transaction of $336,420.63. Following the completion of the sale, the director now owns 208,617 shares in the company, valued at approximately $1,708,573.23. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Sharon S. Zezima sold 6,297 shares of GoPro stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $9.16, for a total value of $57,680.52. Following the sale, the general counsel now owns 70,662 shares of the company’s stock, valued at approximately $647,263.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,668 shares of company stock valued at $738,432. Corporate insiders own 28.69% of the company’s stock.
Several hedge funds have recently modified their holdings of GPRO. Engineers Gate Manager LP acquired a new position in shares of GoPro during the third quarter worth $2,994,000. Teachers Advisors LLC boosted its position in shares of GoPro by 234.8% in the third quarter. Teachers Advisors LLC now owns 1,091,694 shares of the company’s stock worth $18,209,000 after buying an additional 765,645 shares during the period. Ameriprise Financial Inc. boosted its position in shares of GoPro by 1,869.6% in the third quarter. Ameriprise Financial Inc. now owns 831,346 shares of the company’s stock worth $13,867,000 after buying an additional 789,138 shares during the period. GAM Holding AG boosted its position in shares of GoPro by 3.1% in the third quarter. GAM Holding AG now owns 367,200 shares of the company’s stock worth $6,125,000 after buying an additional 11,000 shares during the period. Finally, A.R.T. Advisors LLC acquired a new position in shares of GoPro during the fourth quarter worth $1,393,000. Hedge funds and other institutional investors own 33.16% of the company’s stock.
GoPro Company Profile
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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