Is GoPro Inc (NASDAQ:GPRO) a novelty stock? CNBC contributor Herb Greenberg discusses if GoPro could go the way of SodaStream which is down 34 percent in the past month. GPRO is trading down in early morning trade 5.85% to $88.36 at the time of this article. You can watch the full video here.
Taking a look at the company’s recent performance, GoPro Inc (GPRO) reported second quarter earnings for fiscal 2014 on July 31st. The company reported actual earnings per share of $0.08 against the consensus Street estimate of $0.07. This represents year over year growth of 38.1%. GPRO posted revenue of $244.60 million. The stock is currently valued at $10.34 billion and closed the last trading session at $91.
Is it a Buying Opportunity for GRPO?
There are currently eleven analysts that we track that cover the stock. Of those eleven, four have a Buy rating, six have a Hold rating and one has a Sell rating. On a consensus basis this yields a score of 2.27 and a Hold rating. The combined price objective of these covering analysts is $58.33 which represents a 28.95% downside to the last closing price.
The most recent analyst activity consisted of JPMorgan Chase & Co. reiterating thier previous Neutral rating on the stock. They also raised their price target from $51 to $54 which represents a 33.57% downside from the last closing price. On the date of the report, the stock closed at $81.29. FBN Securities initiated coverage on the stock with an Outperform rating. They set a $70 price objective on the shares or a 19.15% upside.
Another research firm weighing in recently was Cleveland Research who initiated coverage on September 16th with a Buy rating and a price target of $78 or a 16% upside. Citigroup boosted their price target in September from $42 to $70. On the day of the report, the company’s shares closed at $68.47.
GoPro Inc (NASDAQ:GPRO) formerly Woodman Labs, Inc., develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing and enjoying engaging content. The Company’s mountable and wearable cameras and accessories, which the Company refer to as capture devices, enable professional-quality capture and exceptional versatility. In addition, the Company’s remote control solutions and its seamless integration with mobile devices through the GoPro App, its mobile application, enable engaging self-capture during virtually any activity. The Company seeks to eliminate the pain point of managing content by making it easy for its customers to transfer footage from their cameras to a system that efficiently organizes their content and facilitates convenient editing and sharing. GoPro Studio, its desktop application, and the GoPro App, reflect the early stages of its content management platform strategy.