GoPro (GPRO) Upgraded by BidaskClub to “Sell”

GoPro (NASDAQ:GPRO) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

Several other brokerages have also recently issued reports on GPRO. Longbow Research cut shares of GoPro from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $7.16 to $13.00 in a report on Monday, January 8th. JPMorgan Chase set a $9.00 target price on shares of GoPro and gave the stock a “buy” rating in a report on Monday, January 8th. Dougherty & Co reaffirmed a “sell” rating and issued a $4.00 target price (down from $7.00) on shares of GoPro in a report on Tuesday, January 9th. Citigroup decreased their target price on shares of GoPro to $7.00 and set a “neutral” rating for the company in a report on Tuesday, January 9th. Finally, Morgan Stanley cut shares of GoPro from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $9.50 to $5.00 in a report on Tuesday, January 23rd. Five equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. GoPro currently has a consensus rating of “Hold” and a consensus target price of $7.71.

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Shares of GoPro stock opened at $4.88 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.55 and a quick ratio of 1.14. The stock has a market capitalization of $713.38, a price-to-earnings ratio of -4.60 and a beta of 0.20. GoPro has a 52-week low of $4.42 and a 52-week high of $11.89.

GoPro (NASDAQ:GPRO) last issued its earnings results on Thursday, February 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.75). The firm had revenue of $334.80 million during the quarter, compared to analysts’ expectations of $340.19 million. GoPro had a negative return on equity of 40.56% and a negative net margin of 15.50%. The firm’s quarterly revenue was down 38.1% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share. research analysts predict that GoPro will post -0.62 EPS for the current year.

In other news, SVP Sharon S. Zezima sold 14,966 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.60, for a total transaction of $83,809.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Mcgee sold 11,124 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.65, for a total transaction of $62,850.60. Following the transaction, the chief financial officer now directly owns 71,958 shares of the company’s stock, valued at $406,562.70. The disclosure for this sale can be found here. 28.58% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GPRO. Principal Financial Group Inc. bought a new stake in GoPro during the third quarter valued at approximately $139,000. North Star Investment Management Corp. grew its position in GoPro by 226.6% during the fourth quarter. North Star Investment Management Corp. now owns 16,575 shares of the company’s stock valued at $125,000 after buying an additional 11,500 shares during the period. Boothbay Fund Management LLC bought a new stake in GoPro during the third quarter valued at approximately $266,000. Cubist Systematic Strategies LLC grew its position in GoPro by 416.1% during the third quarter. Cubist Systematic Strategies LLC now owns 29,158 shares of the company’s stock valued at $321,000 after buying an additional 23,508 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in GoPro by 235.8% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 30,621 shares of the company’s stock valued at $233,000 after buying an additional 21,501 shares during the period. 26.00% of the stock is owned by hedge funds and other institutional investors.

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About GoPro

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; 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.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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