GoPro Inc (NASDAQ:GPRO) announced agreements to acquire two leading mobile video editing apps Replay and Splice. Merging Replay and Splice into GoPro’s mobile strategy accelerates GoPro’s ability to deliver ultra-convenient, yet powerful, mobile editing solutions to GoPro customers and billions of smartphone users.
Replay, developed by Stupeflix in Paris, France, is an award-winning app that allows users to quickly select video clips and photos and automatically combines them into a single video complete with transition effects, graphics, and synchronized music. Splice, developed by Vemory in Austin, Texas, is an award-winning mobile editor that allows users to manually create customized edits with advanced features normally found on desktop editing applications, but with the speed and efficiency of a mobile app interface.
“Splice, Replay and GoPro will combine to deliver what we believe will be the fastest and most enjoyable mobile editing experience,” said Nicholas Woodman, founder and CEO ofGoPro. “We believe the accessibility, speed and efficiency of mobile will make it the predominant editing platform of the future.”
Both apps are currently available on iOS with Android releases planned for later this year. Both teams will maintain operations in their current locations, Paris and Austin. (Original Source)
Shares of GoPro climbed one percent in after-hours trading. GPRO has a 1-year high of $65.49 and a 1-year low of $9.01. The stock’s 50-day moving average is $11.53 and its 200-day moving average is $24.66.
On the ratings front, GoPro has been the subject of a number of recent research reports. In a report issued on February 4, Oppenheimer analyst Andrew Uerkwitz reiterated a Hold rating on GPRO. Separately, on the same day, Dougherty’s Charlie Anderson downgraded the stock to Hold .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Uerkwitz and Charlie Anderson have a total average return of 1.0% and 2.7% respectively. Uerkwitz has a success rate of 49.4% and is ranked #1271 out of 3682 analysts, while Anderson has a success rate of 51.7% and is ranked #1237.
The street is mostly Neutral on GPRO stock. Out of 17 analysts who cover the stock, 10 suggest a Hold rating, 5 suggest a Buy and 2 recommend to Sell the stock. The 12-month average price target assigned to the stock is $15.80, which represents a potential upside of 28% from where the stock is currently trading.
GoPro Inc develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing and enjoying engaging content. It produces mountable and wearable cameras and accessories.