Zacks Investment Research Increases GoPro (NASDAQ:GPRO) Price Target to $6.00

GoPro (NASDAQ:GPRO) had its price target raised by Zacks Investment Research to $6.00 in a research note issued on Wednesday, 24/7 WallStreet reports. Zacks Investment Research‘s price objective suggests a potential upside of 51.13% from the company’s current price.

Several other research firms have also issued reports on GPRO. BidaskClub upgraded GoPro from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Morgan Stanley set a $5.00 price target on GoPro and gave the stock a “sell” rating in a research report on Wednesday, August 21st. ValuEngine lowered GoPro from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Finally, Wedbush set a $6.00 price target on GoPro and gave the stock a “hold” rating in a research report on Friday, August 30th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $5.83.

GPRO traded down $0.19 on Wednesday, hitting $3.97. 10,063,736 shares of the company were exchanged, compared to its average volume of 4,352,346. The firm has a fifty day simple moving average of $4.33 and a two-hundred day simple moving average of $5.56. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.14 and a current ratio of 1.63. GoPro has a 12 month low of $3.62 and a 12 month high of $7.64. The stock has a market capitalization of $813.74 million, a PE ratio of -8.63, a price-to-earnings-growth ratio of 4.40 and a beta of 0.86.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). GoPro had a negative return on equity of 2.69% and a negative net margin of 2.59%. The company had revenue of $292.43 million for the quarter, compared to the consensus estimate of $302.29 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. GoPro’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts expect that GoPro will post 0.12 earnings per share for the current year.

Several hedge funds have recently modified their holdings of GPRO. Prudential Financial Inc. bought a new stake in shares of GoPro in the 2nd quarter worth approximately $55,000. Honkamp Krueger Financial Services Inc. bought a new stake in shares of GoPro in the 2nd quarter worth approximately $64,000. Fox Run Management L.L.C. bought a new stake in shares of GoPro in the 2nd quarter worth approximately $110,000. Meitav Dash Investments Ltd. bought a new stake in shares of GoPro in the 1st quarter worth approximately $125,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of GoPro in the 2nd quarter worth approximately $132,000. Hedge funds and other institutional investors own 49.36% 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 Story: Cryptocurrencies

Get a free copy of the Zacks research report on GoPro (GPRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for GoPro (NASDAQ:GPRO)

Receive News & Ratings for GoPro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoPro and related companies with MarketBeat.com's FREE daily email newsletter.