Log in

GoPro (NASDAQ:GPRO) Earns "Buy" Rating from Oppenheimer

Last updated on Wednesday, July 8, 2020 | 2020 MarketBeat

GoPro (NASDAQ:GPRO)'s stock had its "buy" rating restated by equities researchers at Oppenheimer in a research note issued to investors on Tuesday, TipRanks reports. They currently have a $7.00 price target on the stock. Oppenheimer's price objective would suggest a potential upside of 44.93% from the stock's previous close.

GPRO has been the topic of a number of other reports. Morgan Stanley lifted their price target on GoPro from $2.20 to $2.50 and gave the company an "underweight" rating in a report on Friday, May 8th. Wedbush lifted their price target on GoPro from $2.50 to $3.50 and gave the company a "neutral" rating in a report on Friday, May 8th. TheStreet downgraded GoPro from a "c-" rating to a "d+" rating in a report on Thursday, April 23rd. Zacks Investment Research downgraded 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. Finally, BidaskClub raised GoPro from a "buy" rating to a "strong-buy" rating in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. GoPro currently has an average rating of "Hold" and an average target price of $4.05.

GPRO opened at $4.83 on Tuesday. The stock's fifty day moving average is $4.58 and its two-hundred day moving average is $3.83. The company has a market capitalization of $754.78 million, a P/E ratio of -13.05 and a beta of 1.46. GoPro has a 52 week low of $2.00 and a 52 week high of $5.95. The company has a quick ratio of 0.94, a current ratio of 1.74 and a debt-to-equity ratio of 1.19.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). The company had revenue of $119.40 million for the quarter, compared to the consensus estimate of $119.10 million. GoPro had a negative return on equity of 19.12% and a negative net margin of 5.02%. GoPro's quarterly revenue was down 50.8% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. Equities analysts anticipate that GoPro will post -0.57 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. State Street Corp increased its holdings in GoPro by 15.6% in the 1st quarter. State Street Corp now owns 2,977,976 shares of the company's stock worth $7,802,000 after buying an additional 401,711 shares during the period. Royal Bank of Canada increased its holdings in GoPro by 89.3% in the 1st quarter. Royal Bank of Canada now owns 39,860 shares of the company's stock worth $104,000 after buying an additional 18,798 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of GoPro by 35.2% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 24,328 shares of the company's stock worth $64,000 after purchasing an additional 6,337 shares during the period. Castle Rock Wealth Management LLC grew its stake in shares of GoPro by 26.1% during the 1st quarter. Castle Rock Wealth Management LLC now owns 14,500 shares of the company's stock worth $55,000 after purchasing an additional 3,000 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of GoPro during the 1st quarter worth approximately $79,000. Institutional investors own 48.18% of the company's stock.

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.

Featured Article: What is a conference call?

Analyst Recommendations for GoPro (NASDAQ:GPRO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Top Ten Brokerages You Can Trust

There are more than 500 brokerages and research houses that hire analysts to issue ratings and recommendations. Collectively, these brokerages and their analysts publish approximately 175,000 ratings each year. Every trading day, there are nearly 700 reports and recommendations that are released to the public. To say that it's difficult to separate the signal from the noise when interpreting this data would be an understatement.

MarketBeat has developed a system to track each brokerage and research house's stock recommendations and score them based on their past performance. If Goldman Sachs predicted that Apple's stock price was going to hit $150.00 on a specific date, how accurate were they? If Bank of America issued a "strong buy" rating on a stock, how did that stock perform compared to the broader market over the following twelve months. This tracking system has been applied to the 650,000+ ratings that MarketBeat has tracked during the last five years to identify which brokerages you can really trust (and which you can safely ignore).

This slide show lists the 10 brokerages who have issued the most accurate analyst recommendations over the past several years, as measured by the performance of their "buy" ratings and the accuracy of their price targets.

View the "Top Ten Brokerages You Can Trust".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.