GoPro (NASDAQ:GPRO) Earns “Neutral” Rating from Wedbush

GoPro (NASDAQ:GPRO)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a report issued on Wednesday, RTT News reports. They currently have a $1.50 price objective on the stock. Wedbush’s price objective points to a potential upside of 6.76% from the stock’s previous close.

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

GoPro Stock Performance

GPRO traded up $0.01 during trading hours on Wednesday, hitting $1.41. The stock had a trading volume of 322,911 shares, compared to its average volume of 1,676,226. The stock has a market cap of $214.59 million, a PE ratio of -0.55 and a beta of 1.56. GoPro has a 1 year low of $1.16 and a 1 year high of $3.80. The company has a quick ratio of 1.07, a current ratio of 1.47 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $1.31 and its 200 day simple moving average is $1.44.

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

Institutional Investors Weigh In On GoPro

Institutional investors have recently made changes to their positions in the business. Oak Thistle LLC bought a new stake in shares of GoPro in the 2nd quarter valued at about $32,000. Point72 DIFC Ltd bought a new position in shares of GoPro in the 2nd quarter worth approximately $33,000. Pinnacle Wealth Planning Services Inc. bought a new position in GoPro in the first quarter worth $54,000. Point72 Asia Singapore Pte. Ltd. lifted its position in GoPro by 316.9% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock valued at $35,000 after buying an additional 18,996 shares during the period. Finally, Headlands Technologies LLC grew its position in shares of GoPro by 62.6% in the 1st quarter. Headlands Technologies LLC now owns 29,379 shares of the company’s stock worth $66,000 after buying an additional 11,306 shares during the period. Hedge funds and other 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.