GoPro’s (GPRO) “Neutral” Rating Reaffirmed at Wedbush

Wedbush restated their neutral rating on shares of GoPro (NASDAQ:GPRO) in a research report report published on Wednesday morning, RTT News reports. The firm currently has a $2.00 target price on the stock.

Separately, Morgan Stanley downgraded shares of GoPro from an equal weight rating to an underweight rating and dropped their price objective for the stock from $4.20 to $3.00 in a report on Tuesday, December 12th.

GoPro Stock Performance

GPRO stock opened at $2.23 on Wednesday. The stock has a market capitalization of $334.27 million, a PE ratio of -6.56 and a beta of 1.45. The stock’s 50 day simple moving average is $2.55 and its 200 day simple moving average is $2.99. GoPro has a 12-month low of $2.12 and a 12-month high of $5.05. The company has a current ratio of 1.73, a quick ratio of 1.35 and a debt-to-equity ratio of 0.17.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Wednesday, February 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. GoPro had a negative net margin of 5.29% and a negative return on equity of 11.66%. The firm had revenue of $295.42 million for the quarter, compared to the consensus estimate of $326.99 million. As a group, research analysts forecast that GoPro will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of GoPro

A number of hedge funds and other institutional investors have recently bought and sold shares of GPRO. Vanguard Group Inc. boosted its position in shares of GoPro by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,305,200 shares of the company’s stock worth $42,699,000 after purchasing an additional 55,859 shares during the period. BlackRock Inc. boosted its holdings in GoPro by 1.1% in the 3rd quarter. BlackRock Inc. now owns 11,806,752 shares of the company’s stock worth $58,208,000 after buying an additional 132,213 shares during the period. Dimensional Fund Advisors LP increased its stake in GoPro by 25.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,971,000 shares of the company’s stock worth $35,063,000 after buying an additional 1,415,157 shares in the last quarter. FMR LLC increased its stake in GoPro by 27.4% in the 2nd quarter. FMR LLC now owns 5,278,262 shares of the company’s stock worth $29,189,000 after buying an additional 1,133,819 shares in the last quarter. Finally, Greenlight Capital Inc. raised its holdings in GoPro by 6.3% during the fourth quarter. Greenlight Capital Inc. now owns 2,823,100 shares of the company’s stock valued at $9,796,000 after acquiring an additional 166,640 shares during the period. Hedge funds and other 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.