JPMorgan Chase & Co. Initiates Coverage on GoPro (NASDAQ:GPRO)

Research analysts at JPMorgan Chase & Co. began coverage on shares of GoPro (NASDAQ:GPRO) in a report issued on Monday, TipRanks reports. The firm set a “hold” rating on the stock.

A number of other equities analysts have also commented on the stock. TheStreet lowered shares of GoPro from a “c-” rating to a “d+” rating in a report on Thursday, April 23rd. Zacks Investment Research lowered shares of GoPro from a “buy” rating to a “hold” rating and set a $4.75 price target on the stock. in a report on Friday, May 29th. Wedbush increased their price target on shares of GoPro from $2.50 to $3.50 and gave the stock a “neutral” rating in a report on Friday, May 8th. Oppenheimer reissued a “buy” rating and issued a $7.00 price target on shares of GoPro in a report on Thursday, May 7th. Finally, BidaskClub raised shares of GoPro from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.05.

NASDAQ GPRO opened at $4.69 on Monday. GoPro has a 1 year low of $2.00 and a 1 year high of $5.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.74 and a quick ratio of 0.94. The stock has a market capitalization of $716.96 million, a PE ratio of -12.68 and a beta of 1.45. The company’s 50 day simple moving average is $4.41 and its two-hundred day simple moving average is $3.82.

GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.34). GoPro had a negative net margin of 5.02% and a negative return on equity of 19.12%. The business had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $119.10 million. During the same period in the prior year, the company posted ($0.07) EPS. The business’s revenue for the quarter was down 50.8% compared to the same quarter last year. On average, research analysts anticipate that GoPro will post -0.57 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in GPRO. Prentice Capital Management LP bought a new position in shares of GoPro during the 4th quarter valued at $54,981,000. JPMorgan Chase & Co. boosted its position in GoPro by 101.1% during the 1st quarter. JPMorgan Chase & Co. now owns 9,894,048 shares of the company’s stock valued at $25,923,000 after buying an additional 4,973,044 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in GoPro by 129.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,829,662 shares of the company’s stock valued at $12,281,000 after buying an additional 1,594,144 shares during the period. Canada Pension Plan Investment Board purchased a new stake in GoPro during the 1st quarter valued at $2,311,000. Finally, Norges Bank purchased a new stake in GoPro during the 4th quarter valued at $2,380,000. 48.18% of the stock is currently owned by institutional investors.

About GoPro

GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers HERO7, a cloud-connected line of camera; 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.

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Analyst Recommendations for GoPro (NASDAQ:GPRO)

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