BidaskClub Upgrades GoPro (NASDAQ:GPRO) to “Hold”

BidaskClub upgraded shares of GoPro (NASDAQ:GPRO) from a sell rating to a hold rating in a report released on Wednesday, BidAskClub reports.

A number of other equities analysts have also recently weighed in on GPRO. Wedbush set a $6.00 price target on shares of GoPro and gave the stock a hold rating in a research note on Friday, August 30th. Morgan Stanley set a $5.00 price target on shares of GoPro and gave the stock a sell rating in a research note on Wednesday, August 21st. Finally, ValuEngine cut shares of GoPro from a hold rating to a sell rating in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $7.36.

Shares of GPRO opened at $4.66 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.14. The company’s fifty day moving average is $4.22 and its two-hundred day moving average is $5.66. GoPro has a 1 year low of $3.62 and a 1 year high of $7.64.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The firm had revenue of $292.43 million during the quarter, compared to analyst estimates of $302.29 million. GoPro had a negative net margin of 2.59% and a negative return on equity of 2.69%. During the same period in the prior year, the firm posted ($0.15) earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts predict that GoPro will post 0.12 earnings per share for the current year.

In other news, CEO Nicholas Woodman sold 700,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $5.34, for a total transaction of $3,738,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 1,409,640 shares of company stock worth $7,613,099. Corporate insiders own 22.34% of the company’s stock.

Large investors have recently bought and sold shares of the company. VisionPoint Advisory Group LLC grew its stake in GoPro by 11.5% in the 1st quarter. VisionPoint Advisory Group LLC now owns 29,150 shares of the company’s stock valued at $189,000 after acquiring an additional 3,000 shares during the last quarter. Penserra Capital Management LLC grew its stake in GoPro by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 9,186 shares of the company’s stock valued at $59,000 after acquiring an additional 3,062 shares during the last quarter. Versant Capital Management Inc grew its stake in GoPro by 21.1% in the 2nd quarter. Versant Capital Management Inc now owns 25,189 shares of the company’s stock valued at $137,000 after acquiring an additional 4,396 shares during the last quarter. Swiss National Bank grew its stake in GoPro by 2.4% in the 2nd quarter. Swiss National Bank now owns 212,800 shares of the company’s stock valued at $1,162,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in GoPro by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 441,839 shares of the company’s stock valued at $2,413,000 after acquiring an additional 6,934 shares during the last quarter. 49.36% 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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