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.

About GoPro

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.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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