FY2022 EPS Estimates for GoPro, Inc. Decreased by Wedbush (NASDAQ:GPRO)

GoPro, Inc. (NASDAQ:GPROGet Rating) – Wedbush lowered their FY2022 earnings per share (EPS) estimates for GoPro in a research report issued on Monday, August 1st. Wedbush analyst M. Pachter now expects that the company will earn $0.54 per share for the year, down from their previous forecast of $0.68. The consensus estimate for GoPro’s current full-year earnings is $0.70 per share. Wedbush also issued estimates for GoPro’s Q4 2022 earnings at $0.34 EPS, Q1 2023 earnings at $0.03 EPS and Q2 2023 earnings at $0.04 EPS.

GoPro (NASDAQ:GPROGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter. GoPro had a return on equity of 24.58% and a net margin of 32.96%. The firm had revenue of $217.00 million for the quarter, compared to the consensus estimate of $217.00 million. During the same quarter in the previous year, the company earned ($0.03) EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year.

Several other equities research analysts also recently commented on the stock. StockNews.com downgraded shares of GoPro from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Morgan Stanley reduced their target price on GoPro from $11.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, June 14th. Finally, Citigroup lowered their price target on GoPro from $9.00 to $8.00 in a report on Friday, May 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.30.

GoPro Stock Performance

Shares of GPRO opened at $6.74 on Wednesday. The company has a 50-day moving average of $6.08 and a two-hundred day moving average of $7.55. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 2.83 and a beta of 1.16. 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 one year low of $5.24 and a one year high of $12.14.

Insiders Place Their Bets

In related news, SVP Dean Jahnke sold 14,089 shares of the stock in a transaction on Friday, June 24th. The stock was sold at an average price of $6.12, for a total transaction of $86,224.68. Following the completion of the sale, the senior vice president now directly owns 248,339 shares in the company, valued at $1,519,834.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other GoPro news, Director Tyrone Ahmad-Taylor sold 16,257 shares of GoPro stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $6.48, for a total value of $105,345.36. Following the completion of the sale, the director now directly owns 4,230 shares in the company, valued at $27,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dean Jahnke sold 14,089 shares of the stock in a transaction on Friday, June 24th. The stock was sold at an average price of $6.12, for a total transaction of $86,224.68. Following the transaction, the senior vice president now owns 248,339 shares in the company, valued at approximately $1,519,834.68. The disclosure for this sale can be found here. Insiders sold a total of 71,391 shares of company stock worth $464,845 in the last quarter. 17.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GoPro

A number of large investors have recently bought and sold shares of GPRO. Allspring Global Investments Holdings LLC acquired a new stake in shares of GoPro in the fourth quarter worth about $2,961,000. Qube Research & Technologies Ltd lifted its holdings in GoPro by 612.5% in the 4th quarter. Qube Research & Technologies Ltd now owns 204,944 shares of the company’s stock worth $2,113,000 after purchasing an additional 176,181 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in GoPro by 37.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,697 shares of the company’s stock worth $193,000 after purchasing an additional 5,092 shares during the period. Castle Rock Wealth Management LLC acquired a new position in GoPro during the fourth quarter valued at approximately $96,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of GoPro in the fourth quarter valued at approximately $272,000. 78.36% of the stock is currently owned by institutional investors.

About GoPro

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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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