Wedbush Reaffirms “Neutral” Rating for GoPro (NASDAQ:GPRO)

Wedbush restated their neutral rating on shares of GoPro (NASDAQ:GPRO) in a report released on Wednesday, RTT News reports. The firm currently has a $1.50 target price on the stock.

Separately, StockNews.com raised shares of GoPro from a “sell” rating to a “hold” rating in a report on Friday, September 13th.

GoPro Price Performance

GPRO stock remained flat at $1.44 during trading on Wednesday. The company’s stock had a trading volume of 195,097 shares, compared to its average volume of 1,676,759. GoPro has a 1-year low of $1.16 and a 1-year high of $3.80. The company has a quick ratio of 1.07, a current ratio of 1.47 and a debt-to-equity ratio of 0.50. The firm has a market cap of $219.93 million, a P/E ratio of -0.56 and a beta of 1.56. The company has a 50-day moving average price of $1.32 and a two-hundred day moving average price of $1.44.

GoPro (NASDAQ:GPRO) last released 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. GoPro had a negative net margin of 42.19% and a negative return on equity of 24.57%. The business had revenue of $186.22 million during the quarter, compared to the consensus estimate of $170.02 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The business’s revenue was down 22.7% on a year-over-year basis. Analysts anticipate that GoPro will post -0.65 earnings per share for the current year.

Institutional Trading of GoPro

Several institutional investors have recently added to or reduced their stakes in the company. RIA Advisory Group LLC purchased a new position in GoPro during the third quarter valued at approximately $27,000. Oak Thistle LLC purchased a new position in GoPro during the second quarter valued at approximately $32,000. Point72 DIFC Ltd purchased a new position in GoPro in the second quarter worth $33,000. Pinnacle Wealth Planning Services Inc. purchased a new position in GoPro in the first quarter worth $54,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in GoPro by 316.9% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock worth $35,000 after purchasing an additional 18,996 shares during the last quarter. Institutional investors own 70.09% of the company’s stock.

GoPro Company Profile

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.