GoPro (NASDAQ:GPRO) Releases Q2 2022 Earnings Guidance

GoPro (NASDAQ:GPROGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.04-$0.08 for the period, compared to the consensus 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.

Several equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of GoPro from a buy rating to a hold rating in a research report on Monday, May 9th. Citigroup cut their price target on shares of GoPro from $9.00 to $8.00 in a research note on Friday, May 6th. Finally, Jefferies Financial Group assumed coverage on shares of GoPro in a research note on Monday, February 28th. They set a buy rating and a $12.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $11.90.

Shares of NASDAQ GPRO traded up $0.01 during mid-day trading on Monday, reaching $6.64. 42,795 shares of the company were exchanged, compared to its average volume of 2,677,266. The company’s 50-day simple moving average is $8.16 and its 200-day simple moving average is $9.18. The company has a quick ratio of 1.46, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.04 billion, a P/E ratio of 2.79 and a beta of 1.04. GoPro has a twelve month low of $6.28 and a twelve month high of $12.97.

GoPro (NASDAQ:GPROGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.05 earnings per share for the quarter. GoPro had a net margin of 32.96% and a return on equity of 24.58%. The business had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $217.00 million. During the same quarter in the previous year, the company earned ($0.03) EPS. The business’s revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts expect that GoPro will post 0.71 EPS for the current year.

In related news, SVP S Aimee Lapic sold 30,642 shares of GoPro stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $9.00, for a total transaction of $275,778.00. Following the sale, the senior vice president now directly owns 301,045 shares of the company’s stock, valued at approximately $2,709,405. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tyrone Ahmad-Taylor sold 16,257 shares of GoPro stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $6.48, for a total transaction of $105,345.36. Following the sale, the director now owns 4,230 shares in the company, valued at $27,410.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 305,576 shares of company stock worth $2,459,582. Insiders own 19.54% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of GPRO. BlackRock Inc. lifted its position in shares of GoPro by 10.3% during the 4th quarter. BlackRock Inc. now owns 11,721,353 shares of the company’s stock valued at $120,846,000 after acquiring an additional 1,090,720 shares during the period. State Street Corp lifted its position in shares of GoPro by 2.9% during the 1st quarter. State Street Corp now owns 2,532,149 shares of the company’s stock valued at $21,599,000 after acquiring an additional 71,414 shares during the period. Morgan Stanley lifted its position in shares of GoPro by 16.7% during the 2nd quarter. Morgan Stanley now owns 1,668,763 shares of the company’s stock valued at $19,440,000 after acquiring an additional 238,539 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of GoPro by 11.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,646,506 shares of the company’s stock valued at $14,046,000 after acquiring an additional 169,135 shares during the period. Finally, Lord Abbett & CO. LLC lifted its position in shares of GoPro by 23.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,212,357 shares of the company’s stock valued at $10,341,000 after acquiring an additional 232,011 shares during the period. Hedge funds and other institutional investors own 78.36% of the company’s stock.

GoPro Company Profile (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.

See Also

Earnings History and Estimates for GoPro (NASDAQ:GPRO)

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