GoPro (GPRO) Given a $8.00 Price Target at Wedbush

GoPro (NASDAQ:GPRO) has been given a $8.00 price objective by research analysts at Wedbush in a note issued to investors on Friday, TipRanks reports. The brokerage currently has a “hold” rating on the stock. Wedbush’s target price indicates a potential upside of 24.80% from the company’s previous close.

Several other brokerages have also commented on GPRO. Zacks Investment Research raised GoPro from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Friday, February 8th. BidaskClub lowered GoPro from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Longbow Research reaffirmed a “hold” rating on shares of GoPro in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price objective on GoPro from $7.50 to $8.00 in a report on Friday. Finally, ValuEngine raised GoPro from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.09.

Shares of GPRO traded down $0.26 during trading hours on Friday, hitting $6.41. The stock had a trading volume of 15,126,543 shares, compared to its average volume of 4,131,748. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.58 and a quick ratio of 1.19. GoPro has a 12 month low of $4.00 and a 12 month high of $7.60. The firm has a market capitalization of $1.00 billion, a P/E ratio of -13.93, a PEG ratio of 10.26 and a beta of 0.69.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.06. GoPro had a negative return on equity of 15.98% and a negative net margin of 4.80%. The company had revenue of $243.00 million during the quarter, compared to analyst estimates of $234.41 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. GoPro’s revenue was up 20.1% compared to the same quarter last year. Analysts expect that GoPro will post 0.06 EPS for the current fiscal year.

In other GoPro news, CFO Brian Mcgee sold 19,526 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $6.04, for a total transaction of $117,937.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas Woodman sold 1,400,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $5.94, for a total value of $8,316,000.00. The disclosure for this sale can be found here. Insiders have sold 3,713,050 shares of company stock valued at $22,903,257 in the last three months. 26.61% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in GPRO. Canada Pension Plan Investment Board grew its holdings in GoPro by 1,407.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,894,661 shares of the company’s stock valued at $12,272,000 after purchasing an additional 2,702,700 shares during the period. Spark Investment Management LLC grew its holdings in GoPro by 90.5% during the first quarter. Spark Investment Management LLC now owns 2,383,800 shares of the company’s stock valued at $15,494,000 after purchasing an additional 1,132,700 shares during the period. UBS Oconnor LLC grew its holdings in GoPro by 1,186.5% during the fourth quarter. UBS Oconnor LLC now owns 995,872 shares of the company’s stock valued at $4,222,000 after purchasing an additional 918,460 shares during the period. Morgan Stanley grew its holdings in GoPro by 48.5% during the third quarter. Morgan Stanley now owns 1,404,411 shares of the company’s stock valued at $10,112,000 after purchasing an additional 458,907 shares during the period. Finally, GAM Holding AG bought a new stake in GoPro during the first quarter valued at about $2,372,000. 40.95% of the stock is owned by institutional investors and hedge funds.

GoPro Company Profile

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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Analyst Recommendations for GoPro (NASDAQ:GPRO)

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