In a report released today, Andrew Uerkwitz from Oppenheimer maintained a Hold rating on GoPro (NASDAQ: GPRO). The company’s shares closed on Friday at $6.21.
Uerkwitz noted:
“This note updates our GoPro thesis. In the near term, we think conditions couldn’t be better. Long term, GoPro is on to something with the Fusion. Unlike previous years or new initiatives, the potential pitfalls do not lie with management execution or strategy, in our view. Instead, they sit solely with the consumer. The setup: This holiday, GoPro has for the first time ever, a clean inventory channel, three new appropriately priced products in the good/better/best positions, and a compelling software app. Longer term, GoPro is hard at work on the next generations of the easiest to use, mobile proof camera: Fusion. Or what we believe is the future of capture. Can consumers prove to be heroes? We maintain our rating.”
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 20.4% and a 64.1% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Axon Enterprise Inc, Himax Technologies, and Turtle Beach Corp.
GoPro has an analyst consensus of Hold, with a price target consensus of $6.50.
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Based on GoPro’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $37.27 million. In comparison, last year the company had a GAAP net loss of $30.54 million.
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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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