GoPro Inc (NASDAQ:GPRO) received another set of praises from Piper Jaffray in a research report released a few minutes ago. The research team, led by analyst Erinn Murphy, maintained an Overweight rating on GoPro stock and upgraded the price target to $72, up from the previous $68. The increased price target follows GPRO’s second quarter earnings report in which sales were up 72% and EPS was up 315% Y/Y.

Murphy wrote, “The ongoing robust growth of the brand was underscored by management’s Q3 guidance in which sales are forecasted at $435M- $445M, significantly above our former $386M estimate and the Street’s $401M. Q3 EPS is now forecasted at $0.29-$0.32 (Street: $0.22). We are encouraged by the continued traction GoPro is gaining with their content globally and the new revenue opportunities with GoPro’s recently announced licensing model. We are raising our FY15 from $1.72 to $1.90 and inching up our FY16 EPS to $2.12. While our estimates are higher, we still believe they are very conservative–particularly Q4. We are buyers of GPRO shares.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Erinn Murphy has a total average return of 5.4% and a 65.2% success rate. Murphy has a 18.1% average return when recommending GPRO, and is ranked #896 out of 3711 analysts.