Shares of action camera company GoPro Inc (NASDAQ:GPRO) shot up about 7% in trading on Monday, June 1 after CEO Nick Woodman announced the availability of a new camera called the GoPro Hero+ LCD.

The new GoPro Hero+ LCD has a built-in touch display, in-camera video trimming, and integrated Wi-Fi. According to the company, the camera will retail at $299 and go on sale on June 6.

Woodman said of the new action camera, “HERO+ LCD illustrates that even as we push the limits of life capture with bleeding-edge devices like the HERO4 Black, we’re also focused on delivering accessible, high-quality capture solutions to anyone wanting to GoPro.”

The GoPro CEO also announced last week that the company is planning on entering the virtual reality market with both a six-camera and 16 camera virtual reality recording system. In addition, GoPro is in the midst of developing a drone.

Oppenheimer analyst Andrew Uerkwitz weighed in on GoPro on June 2, giving the stock a Perform rating with no price target. Uerkwitz’s concern is that GoPro cameras appeal more to ‘prosumers’, who he describes as “tech savvy consumers who care about application, quality, and brand,” which is problem because “this market is limited.” However, due to GoPro’s new verticals, the analyst believes “investor enthusiasm” has been reignited and that makes his “worries irrelevant in the near term.”

Overall, Andrew Uerkwitz has a 61% success rate recommending stocks and a +6.1% average return per recommendation.

On the other hand, Piper Jaffray analyst Erinn Murphy maintained an Overweight rating on GoPro with a price target of $66 on June 1. The analyst noted, “Currently, we believe sell-through momentum is as strong as it has been since the month after the Fall 2014 launch of the new HERO line and see strong evidence of GoPro expanding the action camera market.”

On average, Erinn Murphy has a 51% success rate recommending stocks and a +1.6% average return per recommendation.