GoPro (NASDAQ:GPRO) Raised to Sell at ValuEngine

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ValuEngine upgraded shares of GoPro (NASDAQ:GPRO) from a strong sell rating to a sell rating in a research note released on Tuesday, June 12th.

A number of other research firms have also recently weighed in on GPRO. BidaskClub upgraded shares of GoPro from a strong sell rating to a sell rating in a research report on Tuesday, March 6th. Vetr lowered shares of GoPro from a strong-buy rating to a buy rating and set a $6.36 price objective for the company. in a research note on Tuesday, March 6th. Citigroup reissued a hold rating and set a $6.50 price target (up from $5.50) on shares of GoPro in a research report on Friday, March 9th. JPMorgan Chase & Co. set a $8.00 price target on shares of GoPro and gave the stock a hold rating in a report on Friday, May 4th. Finally, Wedbush reaffirmed a neutral rating and set a $6.00 price objective on shares of GoPro in a research note on Monday, April 30th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company’s stock. GoPro presently has a consensus rating of Hold and an average target price of $7.48.

Shares of GoPro opened at $6.77 on Tuesday, according to Marketbeat. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.04. GoPro has a 12-month low of $4.42 and a 12-month high of $11.89. The company has a market cap of $993.86 million, a P/E ratio of -6.39 and a beta of 0.24.

GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, May 3rd. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.04. GoPro had a negative net margin of 12.73% and a negative return on equity of 38.90%. The firm had revenue of $202.35 million for the quarter, compared to the consensus estimate of $182.26 million. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. equities research analysts anticipate that GoPro will post -0.54 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of GPRO. Indaba Capital Management L.P. purchased a new stake in GoPro in the first quarter valued at approximately $10,551,000. BlackRock Inc. increased its holdings in shares of GoPro by 9.1% in the first quarter. BlackRock Inc. now owns 7,516,464 shares of the company’s stock valued at $36,004,000 after purchasing an additional 629,370 shares during the period. Millennium Management LLC grew its holdings in GoPro by 310.4% during the fourth quarter. Millennium Management LLC now owns 683,978 shares of the company’s stock worth $5,178,000 after acquiring an additional 517,298 shares during the period. Arnhold LLC acquired a new position in GoPro during the first quarter worth $1,627,000. Finally, SG Americas Securities LLC grew its holdings in GoPro by 464.7% during the first quarter. SG Americas Securities LLC now owns 388,031 shares of the company’s stock worth $1,859,000 after acquiring an additional 319,318 shares during the period. Institutional investors own 28.23% of the company’s stock.

About GoPro

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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