GoPro Inc. (GPRO) Earns “Overweight” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of GoPro Inc. (NASDAQ:GPRO) in a research note issued to investors on Saturday morning. JPMorgan Chase & Co. currently has a $16.00 price target on the stock.

Several other equities research analysts have also recently issued reports on the company. Bank of America Corp. initiated coverage on GoPro in a research note on Friday, September 16th. They issued a buy rating and a $19.00 price target for the company. Dougherty & Co reiterated a hold rating on shares of GoPro in a research note on Monday, July 18th. Wedbush boosted their price target on GoPro from $14.50 to $17.50 and gave the company an outperform rating in a research note on Tuesday, September 20th. BlueFin Research reiterated an add rating on shares of GoPro in a research note on Monday, September 26th. Finally, Vetr upgraded GoPro from a buy rating to a strong-buy rating and set a $17.43 price target for the company in a research note on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $15.89.

GoPro (NASDAQ:GPRO) traded down 1.73% during midday trading on Friday, hitting $13.60. The stock had a trading volume of 6,852,149 shares. GoPro has a 1-year low of $8.62 and a 1-year high of $31.33. The stock’s market cap is $1.90 billion. The company has a 50-day moving average of $15.11 and a 200-day moving average of $12.63.

GoPro (NASDAQ:GPRO) last posted its earnings results on Wednesday, July 27th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.06. GoPro had a negative return on equity of 27.52% and a negative net margin of 17.31%. The company had revenue of $220.80 million for the quarter, compared to the consensus estimate of $194.37 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was down 47.4% on a year-over-year basis. Equities research analysts forecast that GoPro will post ($1.07) EPS for the current year.

In other news, Director Michael E. Marks sold 40,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $15.58, for a total value of $623,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward A. Gilhuly sold 700,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $15.12, for a total value of $10,584,000.00. The disclosure for this sale can be found here. 28.69% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of GoPro by 6.7% in the second quarter. Vanguard Group Inc. now owns 5,685,463 shares of the company’s stock valued at $61,461,000 after buying an additional 358,470 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of GoPro by 60.1% in the second quarter. AQR Capital Management LLC now owns 3,170,390 shares of the company’s stock valued at $34,272,000 after buying an additional 1,190,470 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of GoPro by 286.7% in the second quarter. BlackRock Fund Advisors now owns 2,463,419 shares of the company’s stock valued at $26,630,000 after buying an additional 1,826,461 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of GoPro by 14.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,177,166 shares of the company’s stock valued at $23,535,000 after buying an additional 270,430 shares during the last quarter. Finally, State Street Corp boosted its position in shares of GoPro by 65.5% in the second quarter. State Street Corp now owns 1,689,682 shares of the company’s stock valued at $18,266,000 after buying an additional 668,942 shares during the last quarter. Institutional investors own 28.46% of the company’s stock.

GoPro Company Profile

GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.

5 Day Chart for NASDAQ:GPRO

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