Zacks: Brokerages Anticipate GoPro Inc (NASDAQ:GPRO) Will Post Quarterly Sales of $307.32 Million

Brokerages forecast that GoPro Inc (NASDAQ:GPRO) will announce $307.32 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for GoPro’s earnings. The lowest sales estimate is $304.27 million and the highest is $311.30 million. GoPro reported sales of $285.94 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The company is expected to issue its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that GoPro will report full year sales of $1.26 billion for the current year, with estimates ranging from $1.25 billion to $1.26 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.29 billion, with estimates ranging from $1.28 billion to $1.32 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover GoPro.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $292.43 million during the quarter, compared to analysts’ expectations of $302.29 million. GoPro had a negative return on equity of 2.69% and a negative net margin of 2.59%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted ($0.15) EPS.

GPRO has been the topic of a number of recent research reports. ValuEngine lowered GoPro from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. BidaskClub lowered GoPro from a “sell” rating to a “strong sell” rating in a research report on Friday, July 19th. Morgan Stanley set a $5.00 price objective on GoPro and gave the company a “sell” rating in a research report on Friday, August 2nd. Wedbush decreased their price objective on GoPro from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Zacks Investment Research upgraded GoPro from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective on the stock in a research report on Thursday, May 16th. Four analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. GoPro currently has a consensus rating of “Hold” and a consensus price target of $7.29.

GPRO traded up $0.06 during mid-day trading on Friday, reaching $4.12. The stock had a trading volume of 5,014,800 shares, compared to its average volume of 4,164,386. The stock has a market capitalization of $650.39 million, a P/E ratio of -8.96, a P/E/G ratio of 3.34 and a beta of 0.49. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.14 and a current ratio of 1.63. The firm’s fifty day simple moving average is $4.90 and its two-hundred day simple moving average is $5.88. GoPro has a 52 week low of $3.91 and a 52 week high of $7.64.

In other news, CEO Nicholas Woodman sold 700,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $5.34, for a total value of $3,738,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 2,804,189 shares of company stock worth $17,084,222 over the last 90 days. 22.34% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of GPRO. Concourse Capital Management LLC increased its position in shares of GoPro by 224.4% in the second quarter. Concourse Capital Management LLC now owns 71,429 shares of the company’s stock valued at $390,000 after acquiring an additional 49,410 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of GoPro in the second quarter valued at about $220,000. Nuveen Asset Management LLC acquired a new stake in shares of GoPro in the second quarter valued at about $4,517,000. UBS Asset Management Americas Inc. increased its position in shares of GoPro by 70.7% in the second quarter. UBS Asset Management Americas Inc. now owns 113,408 shares of the company’s stock valued at $619,000 after acquiring an additional 46,987 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of GoPro by 116.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 7,619,587 shares of the company’s stock valued at $41,603,000 after acquiring an additional 4,100,719 shares during the last quarter. Institutional investors and hedge funds own 45.81% of the company’s stock.

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.

Further Reading: Cost of Goods Sold (COGS)

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