GoPro (NASDAQ:GPRO) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

GoPro (NASDAQ:GPRO) posted its earnings results on Thursday. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04, Bloomberg Earnings reports. GoPro had a negative return on equity of 2.70% and a negative net margin of 2.59%. The firm had revenue of $292.43 million for the quarter, compared to analysts’ expectations of $302.29 million. During the same period last year, the firm earned ($0.15) EPS. The firm’s revenue was up 3.4% compared to the same quarter last year.

NASDAQ GPRO traded down $0.64 on Friday, reaching $4.39. 13,387,319 shares of the stock traded hands, compared to its average volume of 3,715,908. The stock’s fifty day moving average price is $5.47. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.19 and a current ratio of 1.69. The company has a market capitalization of $773.38 million, a P/E ratio of -9.54, a price-to-earnings-growth ratio of 3.35 and a beta of 0.49. GoPro has a 12 month low of $4.00 and a 12 month high of $7.64.

In other GoPro news, CEO Nicholas Woodman sold 700,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $5.34, for a total transaction of $3,738,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tyrone Ahmad-Taylor sold 8,378 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $6.43, for a total value of $53,870.54. Following the transaction, the director now directly owns 4,189 shares of the company’s stock, valued at $26,935.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,830,020 shares of company stock valued at $17,281,969. 22.34% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of GPRO. Bank of New York Mellon Corp boosted its stake in shares of GoPro by 6.9% during the 4th quarter. Bank of New York Mellon Corp now owns 443,666 shares of the company’s stock worth $1,882,000 after acquiring an additional 28,452 shares in the last quarter. Northern Trust Corp boosted its stake in shares of GoPro by 1.5% during the 4th quarter. Northern Trust Corp now owns 1,420,543 shares of the company’s stock worth $6,024,000 after acquiring an additional 20,463 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of GoPro during the 4th quarter worth $569,000. Metropolitan Life Insurance Co. NY boosted its stake 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 worth $158,000 after acquiring an additional 29,376 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake 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 worth $246,000 after acquiring an additional 19,603 shares in the last quarter. 47.85% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently commented on GPRO shares. JPMorgan Chase & Co. raised their target price on GoPro from $7.50 to $8.00 in a research report on Friday, May 10th. Wedbush lowered their target price on GoPro from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Friday. Longbow Research restated a “hold” rating on shares of GoPro in a research report on Tuesday, April 9th. Zacks Investment Research upgraded GoPro from a “hold” rating to a “strong-buy” rating and set a $8.50 target price on the stock in a research report on Thursday, May 16th. Finally, ValuEngine cut GoPro from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Four analysts have rated the stock with a sell rating, two 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 stock presently has an average rating of “Hold” and a consensus target price of $7.29.

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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Earnings History for GoPro (NASDAQ:GPRO)

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