GoPro, Inc. (NASDAQ:GPRO) – Stock analysts at Wedbush raised their Q3 2017 earnings per share (EPS) estimates for GoPro in a research report issued to clients and investors on Thursday. Wedbush analyst M. Pachter now expects that the company will post earnings per share of ($0.02) for the quarter, up from their previous forecast of ($0.05). Wedbush currently has a “Neutral” rating on the stock. Wedbush also issued estimates for GoPro’s FY2017 earnings at ($0.42) EPS.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.20. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The business had revenue of $296.52 million for the quarter, compared to the consensus estimate of $268.94 million. During the same period in the prior year, the business posted ($0.52) earnings per share. GoPro’s revenue for the quarter was up 34.3% compared to the same quarter last year. WARNING: This report was first published by Markets Daily and is owned by of Markets Daily. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://www.themarketsdaily.com/2017/09/12/gopro-inc-to-post-q3-2017-earnings-of-0-02-per-share-wedbush-forecasts-gpro.html.
Other equities research analysts have also issued reports about the stock. Vetr lowered shares of GoPro from a “strong-buy” rating to a “buy” rating and set a $8.98 price objective on the stock. in a report on Wednesday, June 28th. J P Morgan Chase & Co restated a “buy” rating on shares of GoPro in a report on Friday, August 4th. Morgan Stanley upgraded shares of GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price objective on the stock in a report on Monday, July 31st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of GoPro from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, Cowen and Company restated a “hold” rating and set a $8.50 price objective on shares of GoPro in a report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.75.
GoPro (GPRO) opened at 10.92 on Monday. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68. The stock has a 50 day moving average of $9.12 and a 200-day moving average of $8.59. The firm’s market capitalization is $1.48 billion.
In other news, Director Anthony John Bates sold 25,529 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $10.17, for a total transaction of $259,629.93. Following the transaction, the director now directly owns 116,482 shares in the company, valued at approximately $1,184,621.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.69% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Invictus RG bought a new stake in shares of GoPro during the 1st quarter worth about $195,000. Swiss National Bank boosted its holdings in shares of GoPro by 3.9% during the 1st quarter. Swiss National Bank now owns 145,600 shares of the company’s stock worth $1,267,000 after buying an additional 5,500 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of GoPro by 5.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 455,706 shares of the company’s stock worth $3,965,000 after buying an additional 23,697 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of GoPro by 3.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock worth $183,000 after buying an additional 695 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of GoPro by 5.5% during the 1st quarter. HighTower Advisors LLC now owns 197,832 shares of the company’s stock worth $1,718,000 after buying an additional 10,232 shares during the period. 24.40% of the stock is owned by institutional investors and hedge funds.
GoPro Company Profile
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.
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