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

GoPro (NASDAQ:GPRO)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They presently have a $1.50 price objective on the stock. Wedbush’s price objective indicates a potential upside of 54.31% from the company’s current price.

GoPro Stock Performance

NASDAQ:GPRO opened at $0.97 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32. GoPro has a fifty-two week low of $0.97 and a fifty-two week high of $3.15. The company has a 50 day simple moving average of $1.13 and a two-hundred day simple moving average of $1.26. The company has a market capitalization of $150.44 million, a PE ratio of -0.37 and a beta of 1.53.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $258.90 million during the quarter, compared to analysts’ expectations of $254.92 million. GoPro had a negative net margin of 44.37% and a negative return on equity of 33.48%. During the same period in the prior year, the company posted ($0.02) earnings per share. Research analysts anticipate that GoPro will post -2.65 earnings per share for the current year.

Institutional Trading of GoPro

Several large investors have recently modified their holdings of GPRO. RIA Advisory Group LLC bought a new stake in GoPro in the 3rd quarter valued at about $27,000. R Squared Ltd acquired a new stake in GoPro in the fourth quarter valued at approximately $27,000. Point72 DIFC Ltd bought a new stake in shares of GoPro during the second quarter valued at approximately $33,000. Intech Investment Management LLC acquired a new position in shares of GoPro during the third quarter worth approximately $35,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of GoPro by 316.9% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock worth $35,000 after purchasing an additional 18,996 shares in the last quarter. Institutional investors and hedge funds 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.