He rates the stock as sell with a price target of 5.
GoPro revealed in its latest quarterly financial report that it is eliminating about 270 positions within the company, something resulting from a mixture of layoffs and the removal of open positions. They now have a United States dollars 6 price target on the stock. Zacks Investment Research gave GoPro, Inc. This takes GPRO stock back to its 20-day moving average, a level that was lost earlier in the month.
Several sell side analysts reviewed their recommendations on GoPro, Inc. MSI Financial Services Inc boosted its stake in GoPro by 42.9% in the third quarter. GoPro executives told investors that revenue for the soon-to-end quarter was tracking at the high end of the company's prior forecast. During the same quarter in the previous year, the company earned ($0.08) earnings per share.
"While GoPro's pre-announcement was likely aimed at quelling the shorts, questions remain around new product innovation amid such drastic cost cuts". On the other hand, in the September 2017 quarter the company recorded a net $240.57M revenue with earnings per share of $-0.60. Hence, the surprise factor was -71.4 percent.More news: Satirical Texas Bill Would Fine Men's Masturbation, Set Viagra Waiting Period
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03/06/2017 - GoPro Inc was downgraded to "sell" by analysts at Goldman Sachs. (NASDAQ:GPRO) reported Actual EPS of $0.29/share with the difference of 0.07 percent and a surprise of 31.8 percent.
GoPro, Inc. (NASDAQ:GPRO) now has a consensus Price Target of $8.57.
Since then GoPro has steadied the ship somewhat to the extent that revenues for 2017 have thus far come in at the top end of estimates, although it seems this was not enough to save the 270 staff. These 16 Analysts are also projecting the mean revenue estimate of 200.07 Million. With the last close down -34.63% from the two hundred day average, compared with the S&P 500 Index which has increased 0.04% over the same period.
The Company now has Insider ownership of 0.7 Percent and Institutional Ownership of 44.7 Percent. The shares were sold at an average price of $9.16, for a total value of $57,680.52. GoPro Inc has a 52-week low of 7.14 and a 52-week high of 17.68. Current ratio which is the relationship between current assets and current liabilities, indicating the liquidity of a business is calculated as 1.40.