GoPro Inc (NASDAQ:GPRO) has done considerably well this year, having announced several new products it plans to bring to market. GoPro added a virtual reality recording system  to its offerings, which is available in both 6 and 16 camera models, along with a quadcopter drone, which is set to launch the first half of 2016. Additionally, GoPro launched a new lower priced entry-level camera called the HERO+ LCD and has been investing in software, media, sponsorship, and real-time live broadcast. As such, GoPro is turning from a ‘camera maker’ to a ‘content maker.’

As GoPro is expanding its product line, rumors started circulating on August 5 that GoPro could launch another new action camera this year after the company filed paperwork with the FCC for the approval of a new sports action camera.

Based on the paperwork, GoPro’s new sports action camera will have the same weight and dimensions as the HERO+LCD. The new offering will also have Wi-Fi, Bluetooth connectivity, and come in a waterproof casing.

Dougherty & Co analyst Charlie Anderson weighed in on GoPro on August 5 in light of the speculation surrounding the launch of the new action camera, reiterating a Buy rating on the stock with a price target of $70. The analyst cited that on average, GoPro files new product paperwork every 40 days when looking at data from the last four camera releases, including the HERO 3+, HERO 4, HERO+ LCD, and Session.

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Charlie Anderson has rated GoPro 15 times since 2012, earning a 60% success rate recommending the stock and a +27.4% average return per GoPro recommendation when measured over a one-year horizon and no benchmark. Overall, he has a 78% success rate recommending stocks and a +51.5% average return per recommendation.

Aside from rumors about new camera offerings, GoPro also released second quarter fiscal 2015 earnings on July 21, significantly crushing the Street’s expectations. The company posted earnings of $0.35 per share on $419.9 million in revenue, compared to the Street’s estimate of $0.26 earnings per share on $395.2 million in revenue. Overall, GoPro’s sales shot up 72% and EPS jumped 315% year-over-year.

GoPro CEO Nick Woodman said of the earnings, “I couldn’t be more proud of our aggressive pace of innovation. With the introduction of HERO4 Session and HERO+ LCD, we’ve launched five new cameras in the past 10 months, exciting both new and existing customers and contributing to strong second quarter results.”

Piper Jaffray analyst Erinn Murphy weighed in on GoPro on July 22 following the company’s earnings beat, maintaining and Overweight rating on the stock and upgrading her price target from $68 to $72. Overall, the analyst is pleased with the “continued traction GoPro is gaining with their content globally.”

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Erinn Murphy has rated GoPro 8 times since 2012, earning a 100% success rate recommending the stock and a +19.3% average return per recommendation when measured over a one-year horizon and no benchmark. Overall, she has a 65% success rate recommending stocks and a +7.2% average return per recommendation.

Out of 15 analysts polled by TipRanks, 11 analysts are bullish on GoPro and 4 are neutral. The average 12-month price target for GoPro is $77.64, marking a 23.89% potential upside from where the stock last closed. On average, the all-analyst consensus for GoPro is Moderate Buy.