Wedbush Reiterates “Neutral” Rating for GoPro (NASDAQ:GPRO)

GoPro (NASDAQ:GPRO)‘s stock had its “neutral” rating reiterated by equities researchers at Wedbush in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $2.00 price objective on the stock. Wedbush’s target price suggests a potential upside of 16.62% from the stock’s previous close.

GoPro Trading Up 0.6 %

NASDAQ:GPRO opened at $1.72 on Wednesday. The firm has a fifty day simple moving average of $2.03 and a two-hundred day simple moving average of $2.73. GoPro has a 12 month low of $1.65 and a 12 month high of $4.45. The stock has a market capitalization of $257.08 million, a price-to-earnings ratio of -5.04 and a beta of 1.50. The company has a current ratio of 1.73, a quick ratio of 1.35 and a debt-to-equity ratio of 0.17.

GoPro (NASDAQ:GPRO) last issued its earnings results on Wednesday, February 7th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $295.42 million for the quarter, compared to analyst estimates of $326.99 million. GoPro had a negative return on equity of 11.66% and a negative net margin of 5.29%. Analysts expect that GoPro will post -0.38 EPS for the current fiscal year.

Institutional Trading of GoPro

Several institutional investors have recently made changes to their positions in GPRO. Quadrant Capital Group LLC boosted its stake in shares of GoPro by 419.8% in the 4th quarter. Quadrant Capital Group LLC now owns 7,402 shares of the company’s stock worth $26,000 after buying an additional 5,978 shares during the last quarter. CWM LLC grew its stake in GoPro by 2,680.1% in the 4th quarter. CWM LLC now owns 9,091 shares of the company’s stock valued at $32,000 after purchasing an additional 8,764 shares during the period. Innealta Capital LLC bought a new stake in shares of GoPro during the 4th quarter worth $38,000. Sherbrooke Park Advisers LLC purchased a new stake in GoPro during the third quarter worth about $52,000. Finally, Principal Financial Group Inc. raised its position in GoPro by 39.3% in the third quarter. Principal Financial Group Inc. now owns 19,410 shares of the company’s stock worth $61,000 after acquiring an additional 5,476 shares during the period. Institutional investors own 70.09% of the company’s stock.

About GoPro

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.