GoPro Inc (NASDAQ:GPRO), enabler of some of today’s most engaging content, announced an agreement to acquire Kolor, a leader in virtual reality and spherical media solutions. All Kolor employees will join GoPro and will maintain operations at their headquarters in Savoie, France.
Spherical media enables a range of immersive viewing experiences and is an essential building block of virtual reality (VR), a technology poised to transform entertainment, education and other industries. Kolor’s solutions enable users to combine multiple photographs or videos to produce high-resolution panoramic or spherical content that can be enjoyed on mobile devices, the web or in a virtual reality environment.
“We are excited to welcome Kolor to GoPro,” said Nicholas Woodman, GoPro’s founder and CEO. “GoPro’s capture devices and Kolor’s software will combine to deliver exciting and highly accessible solutions for capturing, creating and sharing spherical content.”
GoPro’s “Land, Air and Sea” spherical video demonstrates what’s possible with a few GoPros combined with Kolor’s software. Check it out on these platforms:
Mobile Devices: Download Kolor’s 360 Video Player (Kolor Eyes) from the App Store (iOS) or Google Play (Android)
Virtual Reality Experience: Download Kolor’s 360 Video Player (above) and use with Cardboard (https://www.google.com/get/cardboard/get-cardboard.html)
From your PC or Mac over the web: www.gopro.com/spherical
YouTube 360 (on the web using Chrome only): https://www.youtube.com/watch?v=pMBDA-Our4w&feature=youtu.be
“Land, Air and Sea” and other spherical videos from GoPro will soon be available on other VR platforms such as Oculus VR and Samsung Gear VR.
“Kolor’s mission is to enable the ultimate visual experience – to transport an audience to another time and space. Joining GoPro makes this possible,” said Alexandre Jenny, CEO of Kolor. “When the best spherical media software is combined with the world’s most versatile capture devices, our imagination become our only limitation. We’re excited to see what the world captures and shares with GoPro and Kolor.” (Original Source)
Shares of GoPro closed today at $44.7, down $0.49 or 1.08%. 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 $42.63 and its 200-day moving average is $57.06.
On the ratings front, GoPro has been the subject of a number of recent research reports. In a report released today, Piper Jaffray analyst Erinn Murphy maintained a Buy rating on GPRO, with a price target of $55, which represents a potential upside of 19.9% from where the stock is currently trading. Separately, on April 25, Wedbush’s Michael Pachter maintained a Buy rating on the stock and has a price target of $70.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Erinn Murphy and Michael Pachter have a total average return of 0.3% and 0.8% respectively. Murphy has a success rate of 49.1% and is ranked #2435 out of 3581 analysts, while Pachter has a success rate of 49.4% and is ranked #1928.
The street is mostly Bullish on GPRO stock. Out of 19 analysts who cover the stock, 11 suggest a Buy rating , 7 suggest a Hold and one recommend to Sell the stock. The 12-month average price target assigned to the stock is $59.07, which implies an upside of 28.8% 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.