GoPro, Inc. (GPRO) PT Raised to $9.00 at Bank of America Corporation
GoPro, Inc. (NASDAQ:GPRO) had its price objective lifted by stock analysts at Bank of America Corporation from $8.00 to $9.00 in a research note issued on Tuesday. The firm currently has an “underperform” rating on the stock. Bank of America Corporation’s price objective points to a potential downside of 12.96% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. J P Morgan Chase & Co restated a “buy” rating on shares of GoPro in a research report on Friday, August 4th. Vetr cut shares of GoPro from a “strong-buy” rating to a “buy” rating and set a $9.04 price objective for the company. in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of GoPro from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, October 4th. Longbow Research upgraded shares of GoPro from a “neutral” rating to a “buy” rating and raised their price objective for the company from $9.60 to $13.00 in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Morgan Stanley upgraded shares of GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price objective for the company in a research report on Monday, July 31st. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.70.
GoPro (NASDAQ:GPRO) traded up 0.338% on Tuesday, reaching $10.375. 4,395,194 shares of the company’s stock traded hands. The firm’s 50-day moving average is $10.36 and its 200 day moving average is $9.07. GoPro has a 52-week low of $7.15 and a 52-week high of $13.09. The stock’s market capitalization is $1.41 billion.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.20. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The firm had revenue of $296.52 million during the quarter, compared to the consensus estimate of $268.94 million. During the same period last year, the firm posted ($0.52) EPS. The firm’s quarterly revenue was up 34.3% on a year-over-year basis. Analysts forecast that GoPro will post $0.04 EPS for the current year.
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In related news, COO Charles J. Prober sold 24,918 shares of GoPro stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $11.00, for a total transaction of $274,098.00. Following the transaction, the chief operating officer now owns 148,493 shares of the company’s stock, valued at approximately $1,633,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony John Bates sold 25,529 shares of GoPro stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $10.17, for a total transaction of $259,629.93. Following the transaction, the director now directly owns 116,482 shares in the company, valued at approximately $1,184,621.94. The disclosure for this sale can be found here. Insiders have sold a total of 51,344 shares of company stock worth $542,205 in the last three months. 28.58% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. boosted its stake in GoPro by 5.4% during the 2nd quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock worth $112,000 after acquiring an additional 704 shares during the last quarter. Legal & General Group Plc boosted its stake in GoPro by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 34,526 shares of the company’s stock worth $281,000 after acquiring an additional 763 shares during the last quarter. Stifel Financial Corp boosted its stake in GoPro by 1.4% during the 2nd quarter. Stifel Financial Corp now owns 59,343 shares of the company’s stock worth $482,000 after acquiring an additional 813 shares during the last quarter. Nationwide Fund Advisors boosted its stake in GoPro by 0.8% during the 2nd quarter. Nationwide Fund Advisors now owns 111,160 shares of the company’s stock worth $904,000 after acquiring an additional 900 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in GoPro by 14.6% during the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock worth $118,000 after acquiring an additional 1,858 shares during the last quarter. 24.26% of the stock is currently owned by institutional investors and hedge funds.
GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.
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