GoPro (NASDAQ:GPRO) Issues Q3 Earnings Guidance

GoPro (NASDAQ:GPRO) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $(0.07)-$(0.03) for the period, compared to the consensus EPS estimate of $0.07. The company issued revenue guidance of $250-260 million, compared to the consensus revenue estimate of $290.40 million. GoPro also updated its Q3 2024 guidance to -0.070–0.030 EPS.

Analysts Set New Price Targets

Separately, Wedbush reduced their target price on shares of GoPro from $2.00 to $1.50 and set a neutral rating for the company in a research note on Wednesday.

GoPro Price Performance

NASDAQ:GPRO traded up $0.06 during mid-day trading on Thursday, hitting $1.22. 1,315,451 shares of the stock traded hands, compared to its average volume of 1,905,107. The business’s 50-day moving average price is $1.47 and its 200 day moving average price is $1.93. The company has a market cap of $182.12 million, a PE ratio of -0.50 and a beta of 1.61. GoPro has a 12-month low of $1.16 and a 12-month high of $4.01. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.41.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.01. The company had revenue of $186.22 million during the quarter, compared to analysts’ expectations of $170.02 million. GoPro had a negative net margin of 36.75% and a negative return on equity of 14.66%. GoPro’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.13) earnings per share. On average, analysts expect that GoPro will post -0.53 EPS for the current fiscal year.

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.