Company Update (NASDAQ:GPRO): GoPro Channel App Tops One Million Downloads on Xbox Platform


GoPro Inc (NASDAQ:GPRO), enabler of some of today’s most engaging content, announced that The GoPro Channel app has been downloaded over one million times on the Xbox video game and entertainment system from Microsoft. Additionally, users are watching an average of 25 minutes of GoPro videos during each viewing session. The GoPro Channel allows Xbox members worldwide to stream GoPro content on-demand, share favorite videos, and purchase cameras and accessories directly through the console.

“We’re amazed at the incredible response the GoPro Channel is getting within the Xbox community,” said Zander Lurie, GoPro’s SVP of Media. “One million downloads and 25-minute sessions are important milestones, demonstrating that people are viewing the GoPro Channel much the way they watch TV.  GoPro’s content resonates emotionally and globally.”

In addition to Xbox One and Xbox 360 entertainment systems, The GoPro Channel is coming soon to Roku and is currently available on LG Smart TVs, in-flight on Virgin America, and social channels including YouTube, Facebook, Twitter, Instagram, Vimeo, Pinterest and GoPro.com/Channels.  (Original Source)

Shares of GoPro Inc opened today at $39.16 and are currently trading up at $40.32. GPRO has a 1-year high of $98.47 and a 1-year low of $28.65. The stock’s 50-day moving average is $45.37 and it’s 200-day moving average is $63.73.

On the ratings front, GoPro has been the subject of a number of recent research reports. In a report issued on March 5, Morgan Stanley analyst James Faucette maintained a Hold rating on GPRO, with a price target of $57, which represents a potential upside of 46% from where the stock is currently trading. Separately, on March 4, JMP’s Alex Gauna reiterated a Buy rating on the stock and has a price target of $105.

In total, one research analyst has rated the stock with a Sell rating, 8 research analysts have assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $39.16 which is 62.5% above where the stock opened today.

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.

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