GoPro (NASDAQ:GPRO) Updates Q4 2021 Earnings Guidance

GoPro (NASDAQ:GPRO) issued an update on its fourth quarter 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.320-$0.380 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.380. The company issued revenue guidance of $375 million-$385 million, compared to the consensus revenue estimate of $403.40 million.GoPro also updated its FY 2021 guidance to $0.800-$0.860 EPS.

Shares of NASDAQ GPRO traded down $0.15 during mid-day trading on Thursday, reaching $10.49. The company had a trading volume of 2,457,441 shares, compared to its average volume of 4,099,744. The business’s 50-day moving average is $9.57 and its 200-day moving average is $10.23. The company has a current ratio of 1.63, a quick ratio of 1.32 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 4.70 and a beta of 1.09. GoPro has a 52 week low of $6.61 and a 52 week high of $13.79.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, November 4th. The company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.14. GoPro had a net margin of 32.19% and a return on equity of 36.23%. The firm had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $292.09 million. During the same period in the prior year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts forecast that GoPro will post 0.6 earnings per share for the current year.

Several brokerages have issued reports on GPRO. JPMorgan Chase & Co. upgraded shares of GoPro from a neutral rating to an overweight rating and increased their target price for the stock from $13.00 to $15.00 in a report on Thursday, November 18th. Morgan Stanley upgraded shares of GoPro from an underweight rating to an equal weight rating and increased their target price for the stock from $9.80 to $11.00 in a report on Thursday, November 11th. Finally, Wedbush reiterated a hold rating and set a $12.00 target price on shares of GoPro in a report on Friday, August 6th.

In other GoPro news, SVP S Aimee Lapic sold 4,836 shares of the stock in a transaction dated Wednesday, September 15th. The shares were sold at an average price of $9.33, for a total transaction of $45,119.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas Woodman sold 200,000 shares of the stock in a transaction dated Friday, September 24th. The shares were sold at an average price of $9.72, for a total transaction of $1,944,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 414,509 shares of company stock valued at $3,866,383. Insiders own 20.32% of the company’s stock.

Several institutional investors have recently made changes to their positions in GPRO. Morgan Stanley raised its position in shares of GoPro by 16.7% in the 2nd quarter. Morgan Stanley now owns 1,668,763 shares of the company’s stock valued at $19,440,000 after purchasing an additional 238,539 shares during the last quarter. UBS Group AG raised its position in shares of GoPro by 2.7% in the 3rd quarter. UBS Group AG now owns 160,911 shares of the company’s stock valued at $1,506,000 after purchasing an additional 4,207 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of GoPro in the 3rd quarter valued at approximately $110,000. 61.79% of the stock is owned by hedge funds and other institutional investors.

About GoPro

GoPro, Inc engages in manufacturing and selling camera and camera accessories. The firm provides mountable and wearable cameras and accessories, which it refers to as capture devices. Its product brands include HERO9 Black, HERO8 Black, Max, HERO7 Black, HERO7 Silver, GoPro Plus, and GoPro App. The company was founded by Nicholas Woodman in 2002 and is headquartered in San Mateo, CA.

Featured Article: Why Dividend Stocks May Be Right for You

Earnings History and Estimates for GoPro (NASDAQ:GPRO)

Receive News & Ratings for GoPro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoPro and related companies with MarketBeat.com's FREE daily email newsletter.