GoPro (NASDAQ:GPRO) Releases Q2 2022 Earnings Guidance

GoPro (NASDAQ:GPROGet Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.04-$0.08 for the period, compared to the consensus earnings per share estimate of $0.15. The company issued revenue guidance of $235.00 million-$245.00 million, compared to the consensus revenue estimate of $271.58 million.

Shares of GPRO traded down $0.07 during mid-day trading on Monday, hitting $6.98. 49,766 shares of the company traded hands, compared to its average volume of 2,696,882. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 2.90 and a beta of 1.04. The stock has a 50-day moving average price of $8.25 and a two-hundred day moving average price of $9.25. GoPro has a 1 year low of $6.28 and a 1 year high of $12.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.46 and a current ratio of 1.65.

GoPro (NASDAQ:GPROGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.05 earnings per share for the quarter. The firm had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $217.00 million. GoPro had a return on equity of 26.20% and a net margin of 32.96%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) EPS. On average, analysts forecast that GoPro will post 0.71 EPS for the current year.

GPRO has been the topic of several recent research reports. Citigroup lowered their price objective on shares of GoPro from $9.00 to $8.00 in a research note on Friday, May 6th. StockNews.com downgraded shares of GoPro from a buy rating to a hold rating in a research report on Monday, May 9th. Finally, Jefferies Financial Group assumed coverage on shares of GoPro in a research report on Monday, February 28th. They set a buy rating and a $12.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, GoPro presently has a consensus rating of Buy and a consensus price target of $11.90.

In other news, SVP Dean Jahnke sold 16,709 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $6.84, for a total value of $114,289.56. Following the sale, the senior vice president now owns 283,385 shares of the company’s stock, valued at $1,938,353.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tyrone Ahmad-Taylor sold 16,257 shares of GoPro stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $6.48, for a total transaction of $105,345.36. Following the transaction, the director now directly owns 4,230 shares of the company’s stock, valued at $27,410.40. The disclosure for this sale can be found here. Insiders sold 305,576 shares of company stock worth $2,459,582 over the last quarter. 20.32% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GPRO. Lazard Asset Management LLC increased its stake in GoPro by 198.7% in the 1st quarter. Lazard Asset Management LLC now owns 4,526 shares of the company’s stock worth $38,000 after buying an additional 3,011 shares during the period. Janus Henderson Group PLC bought a new stake in shares of GoPro during the third quarter valued at approximately $110,000. Cetera Advisor Networks LLC purchased a new stake in shares of GoPro in the first quarter valued at approximately $126,000. Envestnet Asset Management Inc. bought a new stake in GoPro during the 1st quarter valued at $288,000. Finally, Advisor Group Holdings Inc. raised its holdings in shares of GoPro by 5.5% in the first quarter. Advisor Group Holdings Inc. now owns 37,568 shares of the company’s stock valued at $320,000 after acquiring an additional 1,971 shares in the last quarter. Hedge funds and other institutional investors own 78.36% of the company’s stock.

About GoPro (Get Rating)

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the United States and internationally. The company offers cloud connected HERO10 Black, HERO9 Black, and HERO8 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro, a subscription service that includes full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription provides access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik app, a mobile app that enable users to get their favorite photos and videos with footage from any phone or camera.

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Earnings History and Estimates for GoPro (NASDAQ:GPRO)

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