Wedbush Reiterates Neutral Rating for GoPro (NASDAQ:GPRO)

GoPro (NASDAQ:GPRO - Get Free Report)'s stock had its "neutral" rating restated by stock analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They presently have a $1.50 price objective on the stock. Wedbush's price objective would suggest a potential upside of 54.96% from the company's previous close.

GoPro Stock Performance

Shares of GPRO stock traded up $0.08 during mid-day trading on Friday, hitting $0.97. The stock had a trading volume of 2,496,808 shares, compared to its average volume of 1,625,133. The firm has a market cap of $149.81 million, a PE ratio of -0.37 and a beta of 1.51. The company's 50-day simple moving average is $1.12 and its 200-day simple moving average is $1.26. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 0.87. GoPro has a fifty-two week low of $0.89 and a fifty-two week high of $3.03.

GoPro (NASDAQ:GPRO - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) EPS for the quarter, meeting analysts' consensus estimates of ($0.04). The firm had revenue of $258.90 million during the quarter, compared to the consensus estimate of $254.92 million. GoPro had a negative net margin of 44.37% and a negative return on equity of 33.48%. During the same quarter last year, the firm earned ($0.02) earnings per share. Sell-side analysts anticipate that GoPro will post -2.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. purchased a new stake in shares of GoPro in the 2nd quarter worth about $136,000. Cubist Systematic Strategies LLC lifted its holdings in shares of GoPro by 396.6% in the second quarter. Cubist Systematic Strategies LLC now owns 523,745 shares of the company's stock valued at $744,000 after purchasing an additional 418,288 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of GoPro by 55.7% in the second quarter. Squarepoint Ops LLC now owns 119,338 shares of the company's stock valued at $169,000 after purchasing an additional 42,675 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of GoPro by 19.8% in the second quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company's stock valued at $80,000 after purchasing an additional 9,337 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of GoPro by 316.9% during the 2nd 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 in the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

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.