Mixed Search Trends Causes Analyst to be Uncertain on GoPro
Analyst Charlie Anderson from Dougherty & Co reiterated his Neutral rating for GoPro Inc (NASDAQ:GPRO) with search indicators showing a mixed picture for the company.
Google searches were down 26% globally year to year, but app downloads improved. Anderson attributes the decline in Google searches to “comping against the Hero4 Session launch.” Meanwhile the app is witnessing “easier comps as GoPro began to turn downward mid-summer a year ago.” A big positive for GoPro was users in China favoring GoPro over Xiamoi by a significant amount.
According to TipRanks, Anderson has a success rate of 52% with an average return of 3.4% per recommendation.