GoPro Inc (NASDAQ:GPRO) shares continue to inch their way down from highs earlier this year, north of $74.50. The stock is down $0.83 or 4.38% to $18.10 in pre-market trading this morning after the CEO of Ambarella ((NASDAQ:AMBA), a chip maker with close ties to GoPro Inc. (NASDAQ:GPRO), provided the market with a weak outlook on sales.
Shares of GoPro Inc (NASDAQ:GPRO) have been on a downtrend for months but things got particularly bad for shareholders following their last earnings report at the end of October. The stock decreased 5.77% or $1.16 during the last trading session, hitting $18.93. Approximately 63,711 shares traded hands. GPRO shares have declined 62.12% since May 1, 2015 and are currently downtrending. It has underperformed the S&P500 by 61.92%.
From a total of 14 analysts covering GoPro Inc (NASDAQ:GPRO) stock, 10 rate it a “Buy”, 2 a “Sell”, and 2 a “Hold”. This means that 71% 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 $44.09 which is 132.91% above today’s ($18.93) stock price. GoPro Inc was the topic of 39 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray maintained shares on November 18 with a “Underweight” rating. Citigroup maintained shares with a”Buy” rating and a $90 target share price in their report from a September 17. Barclays Capital maintained GPRO stock in a recent report from October 29 with a “Overweight” rating. Hilliard Lyons initiated the rating on September 8. Hilliard Lyons has a “Buy” rating and a $48 price target on shares. Finally, Dougherty & Company maintained the stock with a “Buy” rating in a report they issued on an October 13.
The institutional sentiment increased to 1.71 in Q2 2015. It’s up 0.09, from 1.62 in 2015Q1. The ratio improved, as 51 funds sold all their GoPro Inc shares they owned while 42 reduced their positions. 81 funds bought stakes while 78 increased their total positions. Institutions now own 37.46 million shares which is 42.84% more than the previous share count of 26.23 million in 2015Q1.
Sageview Capital Lp holds 36.3% of its total portfolio in GoPro Inc, equating to 2.30 million shares. Tide Point Capital Management Lp owns 350,000 shares representing 2.4% of their total US portfolio. Moreover, Hamilton Lane Advisors Llc has 2.13% of their total portfolio invested in the company, equating to 106,967 shares. The Wyoming-based Friess Associates Llc has a total of 1.49% of their portfolio invested in the stock. Kopp Investment Advisors Llc, a Minnesota-based fund reported 61,460 shares owned.
GoPro, Inc. produces mountable and wearable cameras and accessories, which the Company refers to as capture devices. The company has a market cap of $2.60 billion. Additionally, the Company develops and provides desktop editing software and mobile applications for free to consumers. It has 15.74 P/E ratio. The Firm offers HERO line of capture devices, which include HERO2, HERO3 camera, the HERO3+ camera and the HERO4 and HERO.