What Can We Expect After GoPro (NASDAQ:GPRO)’s Downgrade By Morgan Stanley?

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GoPro (NASDAQ:GPRO) Receives a Downgrade

The old rating for GoPro (NASDAQ:GPRO) shares of a Equal-Weight has been discontinued, as research professionals at Morgan Stanley cut the current rating for GoPro (NASDAQ:GPRO) shares to a Underweight.

From a total of 17 analysts covering GoPro Inc (NASDAQ:GPRO) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $90 while the lowest target price is $15. The mean of all analyst targets is $37.18 with a 159.47% above today’s ($16.53) stock price. GoPro Inc was the topic of 41 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Citigroup downgraded shares on December 11 to “Neutral” rating. Morgan Stanley maintained shares with “Equal-Weight” rating and $23 target share price in a report from an October 29. Piper Jaffray maintained GPRO stock in a recent report from November 18 with “Underweight” rating. Dougherty & Company maintained the rating on October 13. Dougherty & Company has a “Buy” rating and a $32 price target on shares. Finally, Barclays Capital maintained the stock with “Overweight” rating in a report issued on an October 29.

Approximately 7.19M shares of stock traded hands. GoPro Inc (NASDAQ:GPRO) has declined 60.80% since May 11, 2015 and is downtrending. It has underperformed by 56.38% the S&P500.

The overall sentiment of institutions has decreased to 1.46 in Q2 2015. Its down 0.25, from 1.71 in 2015Q2. The ratio worsened, as 70 institutions have sold all the shares of GoPro Inc that they owned while 42 funds have taken shares off the table. 65 funds have purchased shares for the first time while 99 added to their positions. These institutions now hold 43.04 million shares or 14.87% more than the 37.46 million shares they owned in 2015Q2.

The Fund Sageview Capital Lp currently is holding shares equating to 20.01% of its total portfolio in GoPro Inc representing a total of 1.70 million shares. Another fund,Point72 Asia (Hong Kong) Ltd, is holding a total of 30,000 shares equating to 1.39% of their holdings. Additionally, Mizuho Securities Usa Inc. has a 123,700 share stake in GoPro Inc which represents 1% of their total portfolio. The Fund, Old Mutual Global Investors (Uk) Ltd., based out of United Kingdom, has also built up a stake in the stock, which represents a total of 0.93% of their total portfolio. Finally Voloridge Investment Management Llc, a fund which is based in the state of Florida reported a total holdings of 439,249 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 $2.58 billion. Additionally, the Company develops and provides desktop editing software and mobile applications for free to consumers. It has 13.75 P/E ratio. The Firm offers HERO line of capture devices, which include HERO2, HERO3 camera, the HERO3+ camera and the HERO4 and HERO.

According to Zacks Investment Research, “GoPro, Inc. engages in producing wearable HD camcorders, known as action cameras and related accessories. It also curates videos shot on its cameras and broadcasts those videos on its own channel on YouTube, Xbox Live and Virgin Atlantic flights. The company offers HERO line of cameras; premium accessories; and mounts comprising equipment-based mounts. It also offers other accessories that include spare batteries, charging accessories, cables to connect its GoPro cameras to televisions and monitors, video transmitters, external microphones, flotation devices, dive filters, and anti-fogging solutions, as well as accessories for the Wi-Fi remotes. GoPro, Inc. is headquartered in San Mateo, California.”

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