GoPro (GPRO) Earns “Hold” Rating from Wedbush
GoPro (NASDAQ:GPRO)‘s stock had its “hold” rating reissued by stock analysts at Wedbush in a research report issued on Thursday, September 20th, MarketBeat Ratings reports. They presently have a $7.00 target price on the stock. Wedbush’s target price suggests a potential upside of 8.19% from the stock’s current price.
A number of other research firms have also weighed in on GPRO. JPMorgan Chase & Co. set a $7.00 price objective on GoPro and gave the stock a “hold” rating in a research report on Tuesday, July 31st. BidaskClub lowered GoPro from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Cowen reaffirmed a “hold” rating and set a $6.00 price objective on shares of GoPro in a research report on Friday, August 3rd. Zacks Investment Research lowered GoPro from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, ValuEngine upgraded shares of GoPro from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $7.05.
Shares of GoPro stock traded up $0.28 during trading hours on Thursday, reaching $6.47. 4,840,563 shares of the company were exchanged, compared to its average volume of 4,236,599. GoPro has a 1 year low of $4.42 and a 1 year high of $10.70. The company has a current ratio of 1.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.07 billion, a P/E ratio of -6.10 and a beta of 0.21.
In related news, CFO Brian Mcgee sold 5,452 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $5.86, for a total transaction of $31,948.72. Following the completion of the transaction, the chief financial officer now owns 108,411 shares in the company, valued at $635,288.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 26.61% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. acquired a new position in GoPro in the third quarter valued at $143,000. Raymond James Financial Services Advisors Inc. acquired a new position in GoPro in the second quarter valued at $172,000. BB&T Securities LLC acquired a new position in GoPro in the second quarter valued at $233,000. Koch Industries Inc. acquired a new position in GoPro in the first quarter valued at $296,000. Finally, Trexquant Investment LP acquired a new position in GoPro in the second quarter valued at $336,000. Institutional investors own 30.88% of the company’s stock.
GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.
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