GoPro (NASDAQ:GPRO) Updates FY 2021 Earnings Guidance

GoPro (NASDAQ:GPRO) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.800-$0.860 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.740. The company issued revenue guidance of $1.15 billion-$1.16 billion, compared to the consensus revenue estimate of $1.15 billion.GoPro also updated its Q4 2021 guidance to $0.320-$0.380 EPS.

A number of research firms have recently commented on GPRO. Wedbush reissued a hold rating and issued a $12.00 price objective on shares of GoPro in a research note on Friday, August 6th. JPMorgan Chase & Co. raised GoPro from a neutral rating to an overweight rating and boosted their price objective for the stock from $13.00 to $15.00 in a research note on Thursday, November 18th. Finally, Morgan Stanley raised GoPro from an underweight rating to an equal weight rating and boosted their price objective for the stock from $9.80 to $11.00 in a research note on Thursday, November 11th.

Shares of GPRO traded down $0.15 during midday trading on Thursday, reaching $10.49. The stock had a trading volume of 2,457,441 shares, compared to its average volume of 4,099,744. GoPro has a 52 week low of $6.61 and a 52 week high of $13.79. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.63 and a quick ratio of 1.32. The firm’s 50 day moving average price is $9.57 and its 200-day moving average price is $10.23. The company has a market capitalization of $1.64 billion, a P/E ratio of 4.70 and a beta of 1.09.

GoPro (NASDAQ:GPRO) last issued its earnings results on Thursday, November 4th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.14. The business had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $292.09 million. GoPro had a return on equity of 36.23% and a net margin of 32.19%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. On average, equities analysts forecast that GoPro will post 0.6 earnings per share for the current year.

In other news, SVP S Aimee Lapic sold 4,836 shares of GoPro stock in a transaction on Friday, October 15th. The stock was sold at an average price of $9.06, for a total transaction of $43,814.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nicholas Woodman sold 200,000 shares of GoPro stock in a transaction on Monday, October 25th. The shares were sold at an average price of $8.90, for a total value of $1,780,000.00. The disclosure for this sale can be found here. Insiders sold a total of 414,509 shares of company stock worth $3,866,383 over the last 90 days. Insiders own 20.32% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC purchased a new position in GoPro in the third quarter valued at about $110,000. UBS Group AG grew its stake in GoPro by 2.7% in the third quarter. UBS Group AG now owns 160,911 shares of the company’s stock valued at $1,506,000 after purchasing an additional 4,207 shares in the last quarter. Finally, Morgan Stanley grew its stake in GoPro by 16.7% in the second quarter. Morgan Stanley now owns 1,668,763 shares of the company’s stock valued at $19,440,000 after purchasing an additional 238,539 shares in the last quarter. Hedge funds and other institutional investors own 61.79% of the company’s stock.

GoPro Company Profile

GoPro, Inc engages in manufacturing and selling camera and camera accessories. The firm provides mountable and wearable cameras and accessories, which it refers to as capture devices. Its product brands include HERO9 Black, HERO8 Black, Max, HERO7 Black, HERO7 Silver, GoPro Plus, and GoPro App. The company was founded by Nicholas Woodman in 2002 and is headquartered in San Mateo, CA.

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Earnings History and Estimates for GoPro (NASDAQ:GPRO)

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