Are the Holidays Just What GoPro Inc (GPRO) Needs

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With shares of GoPro Inc (NASDAQ:GPRO) down over 75% from their highs late last year, investors are looking for a catalyst to light a fire under the stock. That catalyst may come by the way of Black Friday and the holiday season.

With 4K video all the rage, and drone photography taking off, quite literally, GoPro Inc (NASDAQ:GPRO) has positioned itself as the manufacturer of some of the hottest products available this season. While shareholder certainly aren’t excited about the price per share over the last 12 months, the company actually has a lot to look forward to.

As 360 degree video and virtual reality become all the rage over the next several years, GoPro seems to be positioning themselves quite nicely to take advantage of these new market opportunities.The stock increased 1.40% or $0.28 during the last trading session, hitting $20.28. About 4.44 million shares traded hands. GPRO has declined 55.29% since April 24, 2015 and is downtrending. It has underperformed by 53.93% the S&P500.

Out of 14 analysts covering GoPro Inc (NASDAQ:GPRO), 10 rate it “Buy”, 2 “Sell”, while 2 “Hold”. This means 71% are positive. $90 is the highest target while $15 is the lowest. The $44.09 average target is 117.41% above today’s ($20.28) stock price. GoPro Inc was the topic in 39 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Piper Jaffray maintained the stock on November 18 with “Underweight” rating. Citigroup maintained it with “Buy” rating and $90 target price in a September 17 report. Barclays Capital maintained the shares of GPRO in a report on October 29 with “Overweight” rating. Hilliard Lyons initiated the firm’s rating on September 8. Hilliard Lyons has “Buy” rating and $48 price target. Finally, Dougherty & Company maintained the stock with “Buy” rating in an October 13 report.

The institutional sentiment increased to 1.71 in Q2 2015. Its up 0.09, from 1.62 in 2015Q1. The ratio improved, as 51 funds sold all GoPro Inc shares owned while 42 reduced positions. 81 funds bought stakes while 78 increased positions. They now own 37.46 million shares or 42.84% more from 26.23 million shares in 2015Q1.

Sageview Capital Lp holds 36.3% of its portfolio in GoPro Inc for 2.30 million shares. Tide Point Capital Management Lp owns 350,000 shares or 2.4% of their US portfolio. Moreover, Hamilton Lane Advisors Llc has 2.13% invested in the company for 106,967 shares. The Wyoming-based Friess Associates Llc has invested 1.49% in the stock. Kopp Investment Advisors Llc, a Minnesota-based fund reported 61,460 shares.

GoPro, Inc. produces mountable and wearable cameras and accessories, which the Company refers to as capture devices. The company has a market cap of $2.77 billion. Additionally, the Company develops and provides desktop editing software and mobile applications for free to consumers. It has 16.86 P/E ratio. The Firm offers HERO line of capture devices, which include HERO2, HERO3 camera, the HERO3+ camera and the HERO4 and HERO.

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