GoPro’s (GPRO) Neutral Rating Reaffirmed at Wedbush

GoPro (NASDAQ:GPRO)‘s stock had its “neutral” rating restated by analysts at Wedbush in a report issued on Wednesday, RTT News reports. They presently have a $1.50 target price on the stock. Wedbush’s target price suggests a potential upside of 6.76% from the stock’s current price.

Separately, StockNews.com raised GoPro from a “sell” rating to a “hold” rating in a report on Friday, September 13th.

GoPro Stock Performance

Shares of GoPro stock traded up $0.01 during trading on Wednesday, hitting $1.41. 322,911 shares of the company’s stock traded hands, compared to its average volume of 1,676,226. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.47 and a quick ratio of 1.07. The stock has a market capitalization of $214.59 million, a P/E ratio of -0.55 and a beta of 1.56. The business has a 50-day simple moving average of $1.31 and a 200-day simple moving average of $1.44. GoPro has a 1 year low of $1.16 and a 1 year high of $3.80.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.01. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. The company had revenue of $186.22 million during the quarter, compared to analyst estimates of $170.02 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. GoPro’s revenue was down 22.7% compared to the same quarter last year. As a group, analysts forecast that GoPro will post -0.65 EPS for the current year.

Institutional Trading of GoPro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP grew its holdings in GoPro by 149.4% during the 3rd quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company’s stock valued at $3,458,000 after buying an additional 1,523,183 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of GoPro by 15.6% in the third quarter. SG Americas Securities LLC now owns 115,176 shares of the company’s stock worth $157,000 after buying an additional 15,541 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of GoPro in the 2nd quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of GoPro by 316.9% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock worth $35,000 after buying an additional 18,996 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of GoPro by 19.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company’s stock valued at $80,000 after buying an additional 9,337 shares in the last quarter. Institutional investors own 70.09% of the company’s stock.

GoPro Company Profile

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.