Company Update (NASDAQ:GPRO): GoPro Inc and Microsoft Sign Licensing Agreement

Microsoft Corporation (NASDAQ:MSFT) announced a new collaborative patent licensing agreement with GoPro Inc (NASDAQ:GPRO) for certain file storage and other system technologies.

“This agreement with GoPro shows the incredible breadth of technology sharing enabled through patent transactions,” said Nick Psyhogeos, president of Microsoft Technology Licensing. “Microsoft’s licensing of personal wearable technologies is seeing strong demand as we partner with companies from all industries to optimize solutions for their customers around the globe.”

The terms of the agreement are confidential. (Original Source)

Shares of GoPro are up nearly 5% in after-hours trading. GPRO has a 1-year high of $65.49 and a 1-year low of $9.60. The stock’s 50-day moving average is $14.52 and its 200-day moving average is $30.89.

On the ratings front, GoPro has been the subject of a number of recent research reports. In a report released yesterday, Dougherty analyst Charlie Anderson downgraded GPRO to Hold. Separately, on the same day, J.P. Morgan’s Paul Coster maintained a Buy rating on the stock and has a price target of $17.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Charlie Anderson and Paul Coster have a total average return of 2.0% and -9.0% respectively. Anderson has a success rate of 44.8% and is ranked #1307 out of 3621 analysts, while Coster has a success rate of 41.0% and is ranked #3495.

The street is mostly Neutral on GPRO stock. Out of 17 analysts who cover the stock, 9 suggest a Hold rating , 6 suggest a Buy and 2 recommend to Sell the stock. The 12-month average price target assigned to the stock is $17.17, which implies an upside of 72.4% from current levels.

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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