GoPro’s (GPRO) “Neutral” Rating Reaffirmed at Wedbush

by · The Markets Daily

Wedbush reissued their neutral rating on shares of GoPro (NASDAQ:GPRO – Free Report) in a research report released on Wednesday morning, RTT News reports. The firm currently has a $1.50 target price on the stock.

Separately, StockNews.com upgraded GoPro from a “sell” rating to a “hold” rating in a research note on Friday, September 13th.

View Our Latest Stock Report on GPRO

GoPro Stock Performance

GPRO remained flat at $1.44 on Wednesday. The company had a trading volume of 195,097 shares, compared to its average volume of 1,676,759. The stock’s 50 day moving average price is $1.32 and its two-hundred day moving average price is $1.44. The company has a quick ratio of 1.07, a current ratio of 1.47 and a debt-to-equity ratio of 0.50. GoPro has a fifty-two week low of $1.16 and a fifty-two week high of $3.80. The company has a market capitalization of $219.93 million, a PE ratio of -0.56 and a beta of 1.56.

GoPro (NASDAQ:GPRO – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.01. The business had revenue of $186.22 million for the quarter, compared to analyst estimates of $170.02 million. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. GoPro’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period last year, the company earned ($0.13) EPS. On average, equities analysts expect that GoPro will post -0.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GPRO. Acadian Asset Management LLC raised its position in GoPro by 109.7% in the 2nd quarter. Acadian Asset Management LLC now owns 4,415,441 shares of the company’s stock worth $6,267,000 after buying an additional 2,309,500 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of GoPro by 149.4% during the 3rd quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company’s stock valued at $3,458,000 after buying an additional 1,523,183 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of GoPro by 396.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 523,745 shares of the company’s stock valued at $744,000 after buying an additional 418,288 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of GoPro by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 452,395 shares of the company’s stock valued at $642,000 after buying an additional 53,614 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of GoPro by 2.7% during the 1st quarter. Russell Investments Group Ltd. now owns 368,597 shares of the company’s stock valued at $822,000 after buying an additional 9,727 shares during the period. 70.09% of the stock is owned by hedge funds and other institutional investors.

About GoPro

(Get Free Report)

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.

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