GoPro (NASDAQ:GPRO) PT Lowered to $4.50 at Morgan Stanley

GoPro (NASDAQ:GPRO) had its target price reduced by equities research analysts at Morgan Stanley from $5.00 to $4.50 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 13.63% from the stock’s previous close.

Several other research firms have also recently commented on GPRO. ValuEngine upgraded GoPro from a “sell” rating to a “hold” rating in a research note on Wednesday. Wedbush set a $6.00 target price on GoPro and gave the company a “hold” rating in a research note on Friday, August 30th. BidaskClub upgraded GoPro from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Zacks Investment Research increased their target price on GoPro to $6.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $6.10.

NASDAQ GPRO traded down $1.17 on Thursday, reaching $3.96. The company had a trading volume of 8,960,935 shares, compared to its average volume of 4,094,181. The firm has a market capitalization of $799.10 million, a PE ratio of -8.61, a P/E/G ratio of 4.32 and a beta of 0.85. GoPro has a 1 year low of $3.62 and a 1 year high of $7.64. The firm has a 50-day moving average of $4.33 and a 200-day moving average of $5.59. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.14.

GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, August 1st. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.03). The business had revenue of $292.43 million for the quarter, compared to analysts’ expectations of $302.29 million. GoPro had a negative net margin of 2.59% and a negative return on equity of 2.69%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) earnings per share. As a group, sell-side analysts expect that GoPro will post 0.12 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. raised its position in shares of GoPro by 116.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 7,619,587 shares of the company’s stock valued at $41,603,000 after acquiring an additional 4,100,719 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of GoPro during the 2nd quarter valued at approximately $392,000. Fox Run Management L.L.C. acquired a new stake in shares of GoPro during the 2nd quarter valued at approximately $110,000. Commerzbank Aktiengesellschaft FI raised its position in shares of GoPro by 19.0% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 308,280 shares of the company’s stock valued at $1,683,000 after acquiring an additional 49,129 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of GoPro by 2.4% during 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 in the last quarter. Institutional investors own 49.36% of the company’s stock.

About GoPro

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.

Further Reading: Quick Ratio

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