Wedbush Reiterates Neutral Rating for GoPro (NASDAQ:GPRO)

GoPro (NASDAQ:GPRO)‘s stock had its “neutral” rating reissued by Wedbush in a research note issued on Wednesday,RTT News reports. They currently have a $1.50 price target on the stock. Wedbush’s price objective suggests a potential upside of 3.45% from the stock’s previous close.

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

GoPro Price Performance

Shares of GoPro stock opened at $1.45 on Wednesday. The stock’s fifty day moving average is $1.32 and its 200 day moving average is $1.44. GoPro has a one year low of $1.16 and a one year high of $3.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.47. The stock has a market cap of $221.46 million, a P/E ratio of -0.56 and a beta of 1.56.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.01. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. The company had revenue of $186.22 million during the quarter, compared to the consensus estimate of $170.02 million. During the same period in the previous year, the company posted ($0.13) EPS. The firm’s revenue was down 22.7% on a year-over-year basis. Sell-side analysts anticipate that GoPro will post -0.65 earnings per share for the current year.

Hedge Funds Weigh In On GoPro

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its stake in shares of GoPro by 109.7% during the second quarter. Acadian Asset Management LLC now owns 4,415,441 shares of the company’s stock valued at $6,267,000 after acquiring an additional 2,309,500 shares in the last quarter. GSA Capital Partners LLP grew its position in GoPro by 149.4% during the 3rd quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company’s stock worth $3,458,000 after purchasing an additional 1,523,183 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of GoPro by 396.6% during the second quarter. Cubist Systematic Strategies LLC now owns 523,745 shares of the company’s stock valued at $744,000 after buying an additional 418,288 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in GoPro in the first quarter valued at approximately $655,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of GoPro by 312.4% in the 1st quarter. BNP Paribas Financial Markets now owns 156,199 shares of the company’s stock valued at $348,000 after acquiring an additional 118,322 shares during the last quarter. Institutional investors own 70.09% of the company’s stock.

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.