GoPro Inc (GPRO) Expected to Post Quarterly Sales of $234.52 Million

Wall Street analysts expect GoPro Inc (NASDAQ:GPRO) to post $234.52 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for GoPro’s earnings, with the highest sales estimate coming in at $244.32 million and the lowest estimate coming in at $225.50 million. GoPro posted sales of $202.35 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The company is scheduled to report its next earnings report on Thursday, May 2nd.

On average, analysts expect that GoPro will report full year sales of $1.20 billion for the current year, with estimates ranging from $1.13 billion to $1.24 billion. For the next year, analysts forecast that the firm will post sales of $1.21 billion, with estimates ranging from $1.13 billion to $1.26 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow GoPro.

GoPro (NASDAQ:GPRO) last released its earnings results on Wednesday, February 6th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. GoPro had a negative return on equity of 34.77% and a negative net margin of 9.49%. The company had revenue of $377.38 million during the quarter, compared to the consensus estimate of $374.28 million. During the same quarter last year, the company earned ($0.30) earnings per share. GoPro’s quarterly revenue was up 12.7% compared to the same quarter last year.

Several research analysts recently weighed in on GPRO shares. BidaskClub lowered GoPro from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research lowered GoPro from a “buy” rating to a “hold” rating in a research report on Monday, February 11th. Wedbush reaffirmed a “neutral” rating and issued a $6.00 target price on shares of GoPro in a research report on Thursday, January 31st. Finally, ValuEngine raised GoPro from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $6.53.

In other news, CEO Nicholas Woodman sold 1,400,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $5.94, for a total transaction of $8,316,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brian Mcgee sold 19,526 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $6.04, for a total value of $117,937.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,819,526 shares of company stock worth $17,561,937. 26.61% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of GoPro during the 4th quarter valued at about $240,000. UBS Oconnor LLC increased its holdings in shares of GoPro by 1,186.5% during the 4th quarter. UBS Oconnor LLC now owns 995,872 shares of the company’s stock valued at $4,222,000 after acquiring an additional 918,460 shares during the last quarter. Amalgamated Bank acquired a new position in shares of GoPro during the 4th quarter valued at about $72,000. Legal & General Group Plc increased its holdings in shares of GoPro by 51.1% during the 4th quarter. Legal & General Group Plc now owns 57,959 shares of the company’s stock valued at $246,000 after acquiring an additional 19,603 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its holdings in shares of GoPro by 368.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 37,351 shares of the company’s stock valued at $158,000 after acquiring an additional 29,376 shares during the last quarter. 41.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ GPRO traded down $0.05 during mid-day trading on Monday, hitting $6.61. 1,330,711 shares of the company traded hands, compared to its average volume of 2,897,203. GoPro has a 1 year low of $4.00 and a 1 year high of $7.60. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -14.36, a P/E/G ratio of 10.20 and a beta of 0.74. The company has a quick ratio of 1.19, a current ratio of 1.58 and a debt-to-equity ratio of 0.66.

About GoPro

GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers HERO7, a cloud-connected line of camera; 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.

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