Wedbush Reaffirms Neutral Rating for GoPro (NASDAQ:GPRO)

GoPro (NASDAQ:GPRO - Get Free Report)'s stock had its "neutral" rating restated by research analysts at Wedbush in a report issued on Tuesday, Benzinga reports. They presently have a $2.00 price objective on the stock. Wedbush's price target indicates a potential upside of 15.61% from the stock's current price.

GoPro Trading Down 2.8 %

Shares of GPRO traded down $0.05 during mid-day trading on Tuesday, reaching $1.73. The company's stock had a trading volume of 1,430,341 shares, compared to its average volume of 1,867,080. GoPro has a 52 week low of $1.67 and a 52 week high of $4.45. The stock has a market cap of $259.33 million, a PE ratio of -5.09 and a beta of 1.43. The company's fifty day moving average price is $2.10 and its two-hundred day moving average price is $2.78. The company has a current ratio of 1.73, a quick ratio of 1.35 and a debt-to-equity ratio of 0.17.

GoPro (NASDAQ:GPRO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. GoPro had a negative net margin of 5.29% and a negative return on equity of 11.66%. The business had revenue of $295.42 million during the quarter, compared to the consensus estimate of $326.99 million. On average, analysts predict that GoPro will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GoPro

Large investors have recently bought and sold shares of the stock. Swiss National Bank boosted its stake in shares of GoPro by 1.6% during the third quarter. Swiss National Bank now owns 284,400 shares of the company's stock valued at $893,000 after purchasing an additional 4,500 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in GoPro by 35.4% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,612,554 shares of the company's stock worth $5,063,000 after acquiring an additional 421,292 shares during the last quarter. Walleye Capital LLC increased its position in shares of GoPro by 1.8% in the third quarter. Walleye Capital LLC now owns 809,135 shares of the company's stock valued at $2,541,000 after acquiring an additional 14,382 shares during the period. QRG Capital Management Inc. purchased a new position in shares of GoPro in the third quarter valued at about $108,000. Finally, Caxton Associates LP raised its stake in shares of GoPro by 129.8% during the third quarter. Caxton Associates LP now owns 350,450 shares of the company's stock valued at $1,100,000 after acquiring an additional 197,915 shares during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

About GoPro

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.