GoPro’s (GPRO) Neutral Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of GoPro Inc (NASDAQ:GPRO) in a report released on Friday morning.

A number of other brokerages have also issued reports on GPRO. Robert W. Baird lowered shares of GoPro from a neutral rating to an underperform rating and cut their price objective for the company from $10.00 to $6.00 in a report on Friday, February 3rd. Stifel Nicolaus reaffirmed a hold rating and set a $9.00 price objective (down from $10.00) on shares of GoPro in a report on Thursday. Dougherty & Co reaffirmed a sell rating and set a $6.00 price objective on shares of GoPro in a report on Tuesday, December 13th. Zacks Investment Research lowered shares of GoPro from a hold rating to a sell rating in a report on Monday, January 30th. Finally, Pacific Crest reaffirmed a hold rating on shares of GoPro in a report on Tuesday, January 24th. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. GoPro currently has a consensus rating of Hold and a consensus target price of $10.24.

Shares of GoPro (NASDAQ:GPRO) traded down 0.93% on Friday, reaching $8.49. 1,150,638 shares of the company’s stock were exchanged. The stock’s market cap is $1.21 billion. GoPro has a one year low of $7.14 and a one year high of $17.68. The company’s 50 day moving average is $9.09 and its 200-day moving average is $11.18.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. GoPro had a negative net margin of 35.35% and a negative return on equity of 44.14%. The business earned $540.62 million during the quarter, compared to analyst estimates of $585.31 million. During the same period last year, the firm posted ($0.08) EPS. The company’s revenue was up 23.8% on a year-over-year basis. On average, analysts anticipate that GoPro will post ($0.17) EPS for the current year.

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In other GoPro news, CFO Brian Mcgee sold 5,692 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $9.31, for a total value of $52,992.52. Following the sale, the chief financial officer now owns 91,250 shares in the company, valued at $849,537.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anthony John Bates sold 41,077 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $8.19, for a total value of $336,420.63. Following the completion of the sale, the director now owns 208,617 shares in the company, valued at approximately $1,708,573.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,668 shares of company stock valued at $738,432. 28.69% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in GPRO. Gilder Gagnon Howe & Co. LLC acquired a new stake in GoPro during the third quarter worth $109,000. MSI Financial Services Inc raised its stake in GoPro by 42.9% in the third quarter. MSI Financial Services Inc now owns 6,812 shares of the company’s stock worth $114,000 after buying an additional 2,044 shares during the last quarter. Seven Eight Capital LP acquired a new stake in GoPro during the fourth quarter worth $118,000. NEXT Financial Group Inc raised its stake in GoPro by 73.5% in the third quarter. NEXT Financial Group Inc now owns 7,175 shares of the company’s stock worth $120,000 after buying an additional 3,040 shares during the last quarter. Finally, Allianz Asset Management AG acquired a new stake in GoPro during the fourth quarter worth $124,000. Institutional investors and hedge funds own 33.16% of the company’s stock.

GoPro Company Profile

GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.

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