GoPro’s (NASDAQ:GPRO) Neutral Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of GoPro (NASDAQ:GPRO) in a research report report published on Tuesday, January 9th, MarketBeat Ratings reports. Wedbush currently has a $6.00 price objective on the stock, down from their prior price objective of $10.50. Wedbush also issued estimates for GoPro’s Q4 2017 earnings at $0.07 EPS, FY2017 earnings at ($0.57) EPS, Q1 2018 earnings at ($0.35) EPS, Q2 2018 earnings at ($0.12) EPS, Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at $0.00 EPS and FY2018 earnings at ($0.46) EPS.

A number of other research analysts also recently commented on GPRO. Citigroup dropped their price target on GoPro to $7.00 and set a neutral rating for the company in a research note on Tuesday, January 9th. Dougherty & Co reaffirmed a sell rating and issued a $4.00 price target (down previously from $7.00) on shares of GoPro in a research note on Tuesday, January 9th. JPMorgan Chase & Co. set a $9.00 price target on GoPro and gave the company a buy rating in a research note on Monday, January 8th. Longbow Research downgraded GoPro from a buy rating to a neutral rating and boosted their target price for the stock from $7.16 to $13.00 in a research note on Monday, January 8th. Finally, BidaskClub downgraded GoPro from a sell rating to a strong sell rating in a research note on Saturday, December 9th. Eight investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $8.47.

GoPro (NASDAQ:GPRO) remained flat at $$5.47 during mid-day trading on Tuesday. The company’s stock had a trading volume of 2,990,000 shares, compared to its average volume of 6,720,000. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.65 and a quick ratio of 1.08. GoPro has a 52 week low of $5.04 and a 52 week high of $11.89. The stock has a market capitalization of $798.40, a P/E ratio of -3.18 and a beta of 0.53.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.14. GoPro had a negative net margin of 17.52% and a negative return on equity of 15.90%. The firm had revenue of $329.81 million during the quarter, compared to analysts’ expectations of $314.32 million. analysts expect that GoPro will post -0.78 earnings per share for the current fiscal year.

In related news, CEO Nicholas Woodman sold 515,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $9.30, for a total value of $4,789,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anthony John Bates sold 17,023 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.98, for a total value of $135,843.54. Following the completion of the sale, the director now owns 99,459 shares in the company, valued at $793,682.82. The disclosure for this sale can be found here. Insiders sold 704,907 shares of company stock worth $6,478,800 over the last quarter. 28.58% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of GoPro by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock worth $57,672,000 after buying an additional 444,109 shares in the last quarter. State Street Corp boosted its holdings in shares of GoPro by 6.7% during the 2nd quarter. State Street Corp now owns 1,914,069 shares of the company’s stock worth $15,563,000 after buying an additional 120,250 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of GoPro by 25.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 782,705 shares of the company’s stock worth $5,926,000 after buying an additional 160,745 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of GoPro during the 3rd quarter worth approximately $7,495,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of GoPro by 2.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 573,002 shares of the company’s stock worth $4,658,000 after buying an additional 12,530 shares in the last quarter. Institutional investors and hedge funds own 26.42% of the company’s stock.

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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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