GoPro, Inc. (NASDAQ:GPRO – Get Rating) – Research analysts at Wedbush reduced their Q2 2022 earnings per share estimates for GoPro in a report released on Monday, August 1st. Wedbush analyst M. Pachter now anticipates that the company will earn ($0.02) per share for the quarter, down from their previous forecast of $0.01. 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.
Several other analysts have also recently issued reports on the company. Morgan Stanley cut their price objective on GoPro from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 14th. StockNews.com cut GoPro from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Finally, Citigroup dropped their price target on GoPro from $9.00 to $8.00 in a research report on Friday, May 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.30.
GoPro Trading Up 1.5 %
GoPro (NASDAQ:GPRO – Get Rating) last announced 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 analysts’ expectations of $217.00 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. GoPro’s revenue for the quarter was up 6.4% compared to the same quarter last year.
Insider Transactions at GoPro
In other 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 directly owns 113,520 shares in the company, valued at approximately $776,476.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $32,873.04. Following the completion of the transaction, the chief accounting officer now directly owns 113,520 shares of the company’s stock, valued at approximately $776,476.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dean Jahnke sold 16,709 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 value of $114,289.56. Following the completion of the transaction, the senior vice president now directly owns 283,385 shares of the company’s stock, valued at $1,938,353.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,391 shares of company stock worth $464,845. 17.95% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On GoPro
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPRO. Allspring Global Investments Holdings LLC bought a new position in GoPro in the 4th quarter worth approximately $2,961,000. Qube Research & Technologies Ltd grew 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 buying an additional 176,181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in GoPro by 37.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,697 shares of the company’s stock valued at $193,000 after purchasing an additional 5,092 shares in the last quarter. Castle Rock Wealth Management LLC bought a new position in GoPro during the 4th quarter valued at $96,000. Finally, Oppenheimer & Co. Inc. bought a new position in GoPro during the 4th quarter valued at $272,000. 78.36% of the stock is owned by institutional investors.
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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