GoPro Inc. (NASDAQ: GPRO) Stock: More Upside Ahead?

In the last trading session, 3.05 million GoPro Inc. (NASDAQ:GPRO) shares changed hands as the company’s beta touched 1.56. With the company’s per share price at $3.75 changed hands at $0.21 or 5.93% during last session, the market valuation stood at $570.15M. GPRO’s last price was a discount, traded about -75.2% off its 52-week high of $6.57. The share price had its 52-week low at $2.41, which suggests the last value was 35.73% up since then. When we look at GoPro Inc.’s average trading volume, we note the 10-day average is 2.7 million shares, with the 3-month average coming to 1.44 million.

Analysts gave the GoPro Inc. (GPRO) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended GPRO as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. GoPro Inc.’s EPS for the current quarter is expected to be $0.02.

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GoPro Inc. (NASDAQ:GPRO) trade information

Instantly GPRO was in green as seen at the end of in last trading. With action 16.46%, the performance over the past five days has been green. The jump to weekly highs of 3.78 on Monday, 11/20/23 added 5.93% to the stock’s daily price. The company’s shares are showing year-to-date downside of -24.70%, with the 5-day performance at 16.46% in the green. However, in the 30-day time frame, GoPro Inc. (NASDAQ:GPRO) is 44.23% up. Looking at the short shares, we see there were 7.22 million shares sold at short interest cover period of 5.88 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.50, meaning bulls need an upside of 16.67% from its current market value. According to analyst projections, GPRO’s forecast low is $4.00 with $5.00 as the target high. To hit the forecast high, the stock’s price needs a -33.33% plunge from its current level, while the stock would need to soar -6.67% for it to hit the projected low.

GoPro Inc. (GPRO) estimates and forecasts

Data shows that the GoPro Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -10.29% over the past 6 months, a -140.43% in annual growth rate that is considerably lower than the industry average of 5.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for GoPro Inc. will fall -83.30%, while the growth in revenue is estimated to hit 61.10% for the next quarter. Year-over-year growth is forecast to reach -5.20% down from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $326.12 million. 2 analysts are of the opinion that GoPro Inc.’s revenue for the quarter ending Mar 2024 will be $193.94 million. The company’s revenue for the corresponding quarters a year ago was $321.02 million and $165.08 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1.60%. The estimates for the next quarter sales put growth at 17.50%.

The 2023 estimates are for GoPro Inc. earnings to decrease by -141.13%, but the outlook for the next 5-year period is at 10.00% per year.

GPRO Dividends

GoPro Inc. is expected to release its next quarterly earnings report between January 31 and February 05.

GoPro Inc. (NASDAQ:GPRO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.76% of GoPro Inc. shares while 65.15% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 66.32%. There are 65.15% institutions holding the GoPro Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.71% of the shares, roughly 12.28 million GPRO shares worth $50.83 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.28% or 11.74 million shares worth $48.6 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 3.92 million shares estimated at $16.25 million under it, the former controlled 3.10% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.51% of the shares, roughly 3.17 million shares worth around $13.14 million.

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