In a research report released earlier today, Cowen analyst Robert Stone initiated coverage on shares of GoPro Inc (NASDAQ:GPRO) with an Outperform rating and price target of $76, which implies an upside of nearly 26% from current levels. In reaction, Gopro shares are up 6.10% as of 1:49PM EDT Thursday.
Stone noted, “We believe GPRO is not only a market leader, but actively expanding the category it created, with a range of devices that should appeal to sports enthusiasts and families. Forthcoming new software should drive ease of use, while content licensing, drones and virtual reality help support L-T growth. We model 21% plus sales and EPS CAGR to 2019E.””
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Robert Stone has a total average return of -12.1% and a 32.8% success rate. Stone is ranked #3662 out of 3734 analysts.
Out of the 16 analysts polled by TipRanks, 10 rate GoPro Inc stock a Buy, 5 rate the stock a Hold and 1 recommends Sell. With a return potential of 13.9%, the stock’s consensus target price stands at $68.46.