GoPro (NASDAQ:GPRO) Raised to Hold at Zacks Research

GoPro (NASDAQ:GPRO) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

A number of other brokerages have also issued reports on GPRO. Wall Street Zen upgraded shares of GoPro from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 23rd. Weiss Ratings upgraded shares of GoPro from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, GoPro presently has an average rating of “Reduce”.

GoPro Stock Performance

Shares of GoPro stock opened at $1.18 on Monday. The firm has a 50-day moving average of $1.08 and a 200-day moving average of $0.98. GoPro has a 52-week low of $0.57 and a 52-week high of $2.73. The stock has a market cap of $217.71 million, a PE ratio of -1.19 and a beta of 2.43.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). The business had revenue of $104.93 million for the quarter, compared to the consensus estimate of $151.47 million. GoPro had a negative return on equity of 411.41% and a negative net margin of 28.52%. Equities research analysts predict that GoPro will post -0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GoPro

Several hedge funds have recently bought and sold shares of the company. R Squared Ltd lifted its holdings in shares of GoPro by 49.4% during the 1st quarter. R Squared Ltd now owns 97,067 shares of the company’s stock worth $75,000 after acquiring an additional 32,113 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of GoPro by 10.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company’s stock worth $115,000 after acquiring an additional 14,324 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in GoPro by 27.4% in the first quarter. Assenagon Asset Management S.A. now owns 162,535 shares of the company’s stock valued at $125,000 after acquiring an additional 34,961 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in GoPro by 615.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 92,665 shares of the company’s stock valued at $131,000 after acquiring an additional 79,706 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in GoPro by 59.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company’s stock valued at $205,000 after purchasing an additional 99,100 shares in the last quarter. 70.09% of the stock is owned by institutional investors.

GoPro Company Profile

GoPro, Inc develops and sells compact cameras and related products designed to capture immersive photos and video during travel, sports, outdoor recreation and everyday activities. Its product portfolio includes HERO action cameras, MAX 360-degree cameras, camera accessories, mounts and other equipment used by consumers, creators and professionals.

The company also provides software and digital services that support content capture, editing, storage and sharing. Its Quik mobile and desktop applications are designed to help users organize and edit footage, while GoPro subscription offerings provide features such as cloud storage, automatic uploads, editing tools, camera replacement benefits and discounts on products and accessories.

Founded in 2002 by Nicholas Woodman, GoPro grew from a wrist-mounted camera concept into a global action-camera brand.