Wedbush Equities Analysts Reduce Earnings Estimates for GoPro, Inc. (NASDAQ:GPRO)

GoPro, Inc. (NASDAQ:GPROGet Rating) – Wedbush cut their Q2 2022 earnings per share estimates for shares of GoPro in a report issued on Monday, August 1st. Wedbush analyst M. Pachter now forecasts that the company will post earnings of ($0.02) per share for the quarter, down from their previous forecast of $0.01. Wedbush has a “Outperform” rating and a $10.00 price target on the stock. The consensus estimate for GoPro’s current full-year earnings is $0.67 per share. Wedbush also issued estimates for GoPro’s Q3 2022 earnings at $0.20 EPS, Q3 2023 earnings at $0.25 EPS, Q4 2023 earnings at $0.37 EPS, FY2023 earnings at $0.69 EPS and FY2024 earnings at $0.79 EPS.

GoPro (NASDAQ:GPROGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $250.69 million for the quarter, compared to analyst estimates of $238.72 million. GoPro had a return on equity of 24.58% and a net margin of 32.96%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of GoPro from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Citigroup cut their price target on shares of GoPro from $9.00 to $8.00 in a report on Friday, May 6th. Finally, Morgan Stanley dropped their target price on shares of GoPro from $11.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, GoPro has an average rating of “Moderate Buy” and an average price target of $10.60.

GoPro Stock Performance

NASDAQ:GPRO opened at $6.56 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.53. GoPro has a 1-year low of $5.24 and a 1-year high of $12.14. The firm has a 50-day moving average of $6.07 and a two-hundred day moving average of $7.50. The stock has a market cap of $1.03 billion, a P/E ratio of 2.76 and a beta of 1.16.

Insider Activity

In other GoPro news, CAO Charles Lafrades sold 4,806 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $6.84, for a total transaction of $32,873.04. Following the transaction, the chief accounting officer now owns 113,520 shares of the company’s stock, valued at $776,476.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Charles Lafrades sold 4,806 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $6.84, for a total transaction of $32,873.04. Following the sale, the chief accounting officer now owns 113,520 shares of the company’s stock, valued at $776,476.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Dean Jahnke sold 14,089 shares of the company’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $6.12, for a total value of $86,224.68. Following the sale, the senior vice president now owns 248,339 shares of the company’s stock, valued at $1,519,834.68. The disclosure for this sale can be found here. Insiders have sold a total of 71,391 shares of company stock worth $464,845 over the last three months. Corporate insiders own 17.95% of the company’s stock.

Institutional Trading of GoPro

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC bought a new position in shares of GoPro during the 2nd quarter worth approximately $6,327,000. SG Capital Management LLC bought a new stake in shares of GoPro during the 4th quarter worth $5,952,000. Goldman Sachs Group Inc. lifted its stake in GoPro by 98.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,687 shares of the company’s stock worth $9,423,000 after purchasing an additional 549,427 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of GoPro by 12.2% during the first quarter. Bank of New York Mellon Corp now owns 4,507,195 shares of the company’s stock valued at $38,447,000 after acquiring an additional 489,710 shares during the last quarter. Finally, Prentice Capital Management LP raised its stake in shares of GoPro by 5.9% during the first quarter. Prentice Capital Management LP now owns 7,590,927 shares of the company’s stock valued at $64,751,000 after acquiring an additional 423,671 shares during the last quarter. 78.36% of the stock is currently owned by institutional investors and hedge funds.

About GoPro

(Get Rating)

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the United States and internationally. The company offers cloud connected HERO10 Black, HERO9 Black, and HERO8 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro, a subscription service that includes full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription provides access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik app, a mobile app that enable users to get their favorite photos and videos with footage from any phone or camera.

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Earnings History and Estimates for GoPro (NASDAQ:GPRO)

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