GoPro (GPRO) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. cut shares of GoPro (NASDAQ:GPRO) from an overweight rating to a neutral rating in a research report sent to investors on Friday, MarketBeat.com reports. They currently have $8.00 price target on the stock, down from their previous price target of $9.00.

A number of other equities analysts have also recently issued reports on GPRO. Longbow Research upgraded shares of GoPro from a neutral rating to a buy rating and lifted their target price for the stock from $9.60 to $13.00 in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Vetr upgraded shares of GoPro from a sell rating to a strong-buy rating and set a $11.55 target price for the company in a research report on Thursday, October 19th. Wedbush restated a neutral rating on shares of GoPro in a research report on Thursday, October 26th. Bank of America lifted their price target on shares of GoPro from $8.00 to $9.00 and gave the stock an underperform rating in a report on Tuesday, October 31st. Finally, Citigroup lowered their price target on shares of GoPro from $11.00 to $10.00 and set a neutral rating for the company in a report on Thursday, November 2nd. Eight research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $8.14.

GoPro (NASDAQ:GPRO) opened at $5.55 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.65 and a quick ratio of 1.08. GoPro has a 52-week low of $5.04 and a 52-week high of $11.89.

GoPro (NASDAQ:GPRO) last announced its earnings results on Thursday, February 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.75). The business had revenue of $334.80 million for the quarter, compared to analyst estimates of $340.19 million. GoPro had a negative return on equity of 39.34% and a negative net margin of 15.50%. The business’s revenue was down 38.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. analysts expect that GoPro will post -0.46 earnings per share for the current fiscal year.

In related news, Director Anthony John Bates sold 17,023 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.98, for a total value of $135,843.54. Following the completion of the sale, the director now directly owns 99,459 shares in the company, valued at $793,682.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian Mcgee sold 7,541 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $8.23, for a total transaction of $62,062.43. Following the completion of the sale, the chief financial officer now owns 79,167 shares of the company’s stock, valued at $651,544.41. The disclosure for this sale can be found here. 28.58% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. grew its holdings in GoPro by 5.4% in the second quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after purchasing an additional 704 shares during the period. Legal & General Group Plc grew its holdings in GoPro by 2.3% in the second quarter. Legal & General Group Plc now owns 34,526 shares of the company’s stock valued at $281,000 after purchasing an additional 763 shares during the period. Stifel Financial Corp grew its holdings in GoPro by 1.4% in the second quarter. Stifel Financial Corp now owns 59,343 shares of the company’s stock valued at $482,000 after purchasing an additional 813 shares during the period. Nationwide Fund Advisors grew its holdings in GoPro by 0.8% in the second quarter. Nationwide Fund Advisors now owns 111,160 shares of the company’s stock valued at $904,000 after purchasing an additional 900 shares during the period. Finally, Amalgamated Bank grew its holdings in GoPro by 14.6% in the second quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock valued at $118,000 after purchasing an additional 1,858 shares during the period. Hedge funds and other institutional investors own 26.40% of the company’s stock.

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About GoPro

GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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