GoPro (GPRO) Announces Quarterly Earnings Results

GoPro (NASDAQ:GPRO) posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.06, Morningstar.com reports. The firm had revenue of $243.00 million during the quarter, compared to analysts’ expectations of $234.41 million. GoPro had a negative return on equity of 15.82% and a negative net margin of 4.80%. The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.34) earnings per share. GoPro updated its FY19 guidance to $0.25-0.45 EPS.

Shares of NASDAQ GPRO traded down $0.18 during mid-day trading on Friday, reaching $7.06. The company’s stock had a trading volume of 5,858,957 shares, compared to its average volume of 4,295,299. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -15.35, a price-to-earnings-growth ratio of 5.03 and a beta of 0.69. The company has a quick ratio of 1.19, a current ratio of 1.69 and a debt-to-equity ratio of 1.08. GoPro has a 52 week low of $4.00 and a 52 week high of $7.64.

In other news, CEO Nicholas Woodman sold 1,400,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $5.94, for a total value of $8,316,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sandor Barna sold 21,642 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $7.49, for a total value of $162,098.58. Following the completion of the transaction, the senior vice president now directly owns 189,223 shares of the company’s stock, valued at approximately $1,417,280.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,743,070 shares of company stock valued at $23,119,226. Corporate insiders own 26.61% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc lifted its position in shares of GoPro by 3.3% in the third quarter. Vanguard Group Inc now owns 9,942,143 shares of the company’s stock worth $71,584,000 after buying an additional 318,197 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of GoPro by 3.3% in the third quarter. Vanguard Group Inc. now owns 9,942,143 shares of the company’s stock worth $71,584,000 after buying an additional 318,197 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of GoPro by 21.6% in the first quarter. Renaissance Technologies LLC now owns 6,003,800 shares of the company’s stock worth $39,025,000 after buying an additional 1,068,400 shares in the last quarter. Maverick Capital Ltd. lifted its position in shares of GoPro by 59.4% in the first quarter. Maverick Capital Ltd. now owns 4,073,560 shares of the company’s stock worth $26,478,000 after buying an additional 1,517,910 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of GoPro by 1,407.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,894,661 shares of the company’s stock worth $12,272,000 after buying an additional 2,702,700 shares in the last quarter. Institutional investors own 42.97% of the company’s stock.

A number of analysts recently commented on the company. BidaskClub upgraded GoPro from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research upgraded GoPro from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective for the company in a research report on Thursday. Longbow Research reiterated a “hold” rating on shares of GoPro in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price objective on GoPro from $7.50 to $8.00 in a research report on Friday, May 10th. Finally, Wedbush set a $8.00 price target on GoPro and gave the company a “hold” rating in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. GoPro presently has an average rating of “Hold” and a consensus target price of $7.44.

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GoPro Company Profile

GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers HERO7, a cloud-connected line of camera; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

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Earnings History for GoPro (NASDAQ:GPRO)

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