Wall Street analysts expect GoPro, Inc. (NASDAQ:GPRO) to post $476.81 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for GoPro’s earnings, with the highest sales estimate coming in at $480.00 million and the lowest estimate coming in at $472.00 million. GoPro reported sales of $540.62 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.8%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 1st.
On average, analysts expect that GoPro will report full year sales of $476.81 million for the current year, with estimates ranging from $1.31 billion to $1.32 billion. For the next financial year, analysts forecast that the company will post sales of $1.43 billion per share, with estimates ranging from $1.38 billion to $1.48 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover GoPro.
A number of brokerages have recently weighed in on GPRO. BidaskClub cut shares of GoPro from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 9th. Zacks Investment Research cut shares of GoPro from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Citigroup cut their target price on shares of GoPro from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Bank of America upped their target price on shares of GoPro from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Tuesday, October 31st. Finally, Wedbush reiterated a “neutral” rating on shares of GoPro in a research note on Thursday, October 26th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.68.
In other GoPro news, CFO Brian Mcgee sold 7,541 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $8.23, for a total transaction of $62,062.43. Following the transaction, the chief financial officer now directly owns 79,167 shares in the company, valued at approximately $651,544.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anthony John Bates sold 17,023 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $7.98, for a total transaction of $135,843.54. Following the transaction, the director now owns 99,459 shares in the company, valued at $793,682.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 704,907 shares of company stock worth $6,478,800. 28.58% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. lifted its position in GoPro by 5.4% during the 2nd quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after purchasing an additional 704 shares during the period. Legal & General Group Plc raised its position in shares of GoPro by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 34,526 shares of the company’s stock valued at $281,000 after acquiring an additional 763 shares during the period. Stifel Financial Corp raised its position in shares of GoPro by 1.4% in the 2nd quarter. Stifel Financial Corp now owns 59,343 shares of the company’s stock valued at $482,000 after acquiring an additional 813 shares during the period. Nationwide Fund Advisors raised its position in shares of GoPro by 0.8% in the 2nd quarter. Nationwide Fund Advisors now owns 111,160 shares of the company’s stock valued at $904,000 after acquiring an additional 900 shares during the period. Finally, Amalgamated Bank raised its position in shares of GoPro by 14.6% in the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock valued at $118,000 after acquiring an additional 1,858 shares during the period. Institutional investors own 26.09% of the company’s stock.
GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.
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