GoPro (NASDAQ:GPRO) Releases Earnings Results, Beats Expectations By $0.02 EPS

GoPro (NASDAQ:GPROGet Rating) issued its earnings results on Thursday. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02, Briefing.com reports. GoPro had a return on equity of 24.58% and a net margin of 32.96%. The firm had revenue of $250.69 million for the quarter, compared to the consensus estimate of $238.72 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The company’s revenue was up .4% compared to the same quarter last year.

GoPro Price Performance

Shares of GoPro stock traded down $0.28 during mid-day trading on Friday, reaching $6.56. 2,970,855 shares of the stock traded hands, compared to its average volume of 2,441,388. The business has a 50-day moving average of $6.08 and a 200 day moving average of $7.52. GoPro has a fifty-two week low of $5.24 and a fifty-two week high of $12.14. The stock has a market capitalization of $1.03 billion, a PE ratio of 2.76 and a beta of 1.16. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley lowered their target price on GoPro from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 14th. Citigroup reduced their price target on GoPro from $9.00 to $8.00 in a report on Friday, May 6th. Finally, StockNews.com cut GoPro from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.30.

Insider Buying and Selling at GoPro

In other GoPro news, SVP Dean Jahnke sold 5,896 shares of the stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $5.85, for a total transaction of $34,491.60. Following the completion of the transaction, the senior vice president now owns 262,428 shares of the company’s stock, valued at $1,535,203.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Tyrone Ahmad-Taylor sold 16,257 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $6.48, for a total value of $105,345.36. Following the completion of the sale, the director now owns 4,230 shares of the company’s stock, valued at $27,410.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Dean Jahnke sold 5,896 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $5.85, for a total value of $34,491.60. Following the completion of the sale, the senior vice president now directly owns 262,428 shares of the company’s stock, valued at approximately $1,535,203.80. The disclosure for this sale can be found here. Insiders sold 71,391 shares of company stock valued at $464,845 over the last quarter. 17.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoPro

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. grew its position in GoPro by 5.5% in the first quarter. Advisor Group Holdings Inc. now owns 37,568 shares of the company’s stock worth $320,000 after acquiring an additional 1,971 shares during the period. Lazard Asset Management LLC grew its position in GoPro by 198.7% in the first quarter. Lazard Asset Management LLC now owns 4,526 shares of the company’s stock worth $38,000 after acquiring an additional 3,011 shares during the period. Delphia USA Inc. grew its position in GoPro by 44.2% in the first quarter. Delphia USA Inc. now owns 17,426 shares of the company’s stock worth $149,000 after acquiring an additional 5,340 shares during the period. Quantamental Technologies LLC grew its position in GoPro by 37.7% in the first quarter. Quantamental Technologies LLC now owns 24,847 shares of the company’s stock worth $212,000 after acquiring an additional 6,800 shares during the period. Finally, Cetera Advisor Networks LLC purchased a new position in GoPro in the first quarter worth approximately $126,000. Institutional investors and hedge funds own 78.36% of the company’s stock.

GoPro Company Profile

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GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the United States and internationally. The company offers cloud connected HERO10 Black, HERO9 Black, and HERO8 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro, a subscription service that includes full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription provides access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik app, a mobile app that enable users to get their favorite photos and videos with footage from any phone or camera.

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Earnings History for GoPro (NASDAQ:GPRO)

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