GoPro (NASDAQ:GPRO) Announces Earnings Results

GoPro (NASDAQ:GPROGet Rating) released its earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02, Briefing.com reports. GoPro had a return on equity of 19.70% and a net margin of 31.70%. The business had revenue of $250.69 million for the quarter, compared to analyst estimates of $238.72 million. During the same quarter last year, the firm posted $0.07 earnings per share. The business’s revenue was up .4% compared to the same quarter last year.

GoPro Stock Down 4.1 %

GPRO traded down $0.28 on Friday, hitting $6.56. The company had a trading volume of 2,975,996 shares, compared to its average volume of 1,870,297. The stock has a fifty day moving average price of $6.07 and a 200-day moving average price of $7.50. GoPro has a 12-month low of $5.24 and a 12-month high of $12.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.53 and a current ratio of 1.86. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 2.85 and a beta of 1.16.

Insider Buying and Selling at GoPro

In other GoPro news, SVP Dean Jahnke sold 16,709 shares of GoPro stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $6.84, for a total value of $114,289.56. Following the transaction, the senior vice president now owns 283,385 shares in the company, valued at $1,938,353.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other GoPro news, SVP Dean Jahnke sold 16,709 shares of GoPro stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $6.84, for a total value of $114,289.56. Following the transaction, the senior vice president now owns 283,385 shares in the company, valued at $1,938,353.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tyrone Ahmad-Taylor sold 16,257 shares of GoPro stock in a transaction dated 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 transaction, the director now owns 4,230 shares in the company, valued at approximately $27,410.40. The disclosure for this sale can be found here. Insiders have sold 71,391 shares of company stock worth $464,845 over the last quarter. Insiders own 17.95% of the company’s stock.

Institutional Investors Weigh In On GoPro

Several institutional investors have recently added to or reduced their stakes in GPRO. Goldman Sachs Group Inc. boosted its holdings in GoPro by 98.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,687 shares of the company’s stock worth $9,423,000 after acquiring an additional 549,427 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in GoPro by 23.7% in the first quarter. Lord Abbett & CO. LLC now owns 1,212,357 shares of the company’s stock worth $10,341,000 after acquiring an additional 232,011 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in GoPro by 11.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,646,506 shares of the company’s stock worth $14,046,000 after acquiring an additional 169,135 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in GoPro by 46.2% in the first quarter. BNP Paribas Arbitrage SA now owns 498,291 shares of the company’s stock worth $4,250,000 after acquiring an additional 157,396 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in GoPro in the first quarter worth about $630,000. Institutional investors and hedge funds own 78.36% of the company’s stock.

Wall Street Analysts Forecast Growth

GPRO has been the topic of a number of recent analyst reports. Citigroup reduced their target price on GoPro from $9.00 to $8.00 in a research note on Friday, May 6th. StockNews.com lowered GoPro from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Morgan Stanley cut their price target 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. Finally, Wedbush restated an “outperform” rating and set a $10.00 price target on shares of GoPro in a research note on Friday. Two equities research 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 stock currently has an average rating of “Moderate Buy” and an average price target of $10.60.

GoPro Company Profile

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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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Earnings History for GoPro (NASDAQ:GPRO)

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