Oppenheimer analyst Andrew Uerkwitz assigned a Buy rating to GoPro (GPRO) yesterday and set a price target of $9. The company’s shares closed yesterday at $5.15.
Uerkwitz noted:
“GPRO reported 4Q18 revenues/non-GAAP EPS of $377M/$0.30, better than our $370M/$0.24E and the Street’s $374M/$0.26E. GoPro has worked extremely hard to get a point where full-year profitability is in sight. The product portfolio has been slimmed down, inventory/channel is under control, and OpEx has been right-sized. The company has delivered on its strategic plan that was laid out several years ago. We believe momentum from stabilization to growth can commence in 2019. Because it’s consumer hardware, it’s never a clean process. Since the turnaround began, management has been more transparent and execution has been solid – inventory is at a 4 year low, cash is net positive, and product discounting has been de minimis.”
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 19.4% and a 59.0% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Himax Technologies, Universal Display, and Electronic Arts.
Currently, the analyst consensus on GoPro is a Moderate Buy with an average price target of $7.33.
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Based on GoPro’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $27.09 million. In comparison, last year the company had a GAAP net loss of $55.85 million.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock.
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GoPro, Inc. engages in manufacturing and selling camera and camera accessories. The company provides mountable and wearable cameras and accessories, which refers as capture devices. Its product brands include Hero5, GoPro Plus, Quik, Capture, Karma, and Karma Grip. The company was founded by Nicholas Woodman in 2002 and is headquartered in San Mateo, CA.
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