GoPro Inc. (NASDAQ: GPRO) stock fell -0.56% on Monday to $3.52 against a previous-day closing price of $3.54. With 0.79 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.33 million shares. During the session, the Consumer Electronics company that operates in wider Technology sector, reached to the highest price of $3.5950 whereas the lowest price it dropped to was $3.4800. The 52-week range on GPRO shows that it touched its highest point at $6.57 and its lowest point at $3.38 during that stretch. It currently has a 1-year price target of $5.15. Beta for the stock currently stands at 1.37.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GPRO was up-trending over the past week, with a rise of 2.92%, but this was down by -4.35% over a month. Three-month performance dropped to -16.19% while six-month performance fell -28.60%. The stock lost -38.57% in the past year, while it has lost -29.32% so far this year. A look at the trailing 12-month EPS for GPRO yields -0.18 with Next year EPS estimates of 0.17. For the next quarter, that number is 0.02. This implies an EPS growth rate of -92.90% for this year and 189.50% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 17.20%.
Float and Shares Shorts:
At present, 154.56 million GPRO shares are outstanding with a float of 125.42 million shares on hand for trading. On Aug 30, 2023, short shares totaled 7.02 million, which was 4.59% higher than short shares on Jul 30, 2023. In addition to Mr. Nicholas D. Woodman as the firm’s Founder, CEO & Chairman, Mr. Brian T. McGee serves as its Exec. VP, CFO & COO.
Institutional Ownership:
Through their ownership of 65.15% of GPRO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 33.94% of GPRO, in contrast to 32.40% held by mutual funds. Shares owned by individuals account for 18.29%. As the largest shareholder in GPRO with 9.48% of the stake, The Vanguard Group, Inc. holds 11,987,465 shares worth 11,987,465. A second-largest stockholder of GPRO, BlackRock Fund Advisors, holds 9,470,812 shares, controlling over 7.49% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in GPRO, holding 6,648,105 shares or 5.26% stake. With a 3.10% stake in GPRO, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,924,228 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.52% of GPRO stock, is the second-largest Mutual Fund holder. It holds 3,190,005 shares valued at 11.6 million. iShares Russell 2000 ETF holds 2.42% of the stake in GPRO, owning 3,063,000 shares worth 11.13 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, GPRO reported revenue of $250.69M and operating income of $4.73M. The EBITDA in the recently reported quarter was $6.50M and diluted EPS was $0.02.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GPRO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GPRO analysts setting a high price target of $6.00 and a low target of $4.30, the average target price over the next 12 months is $5.15. Based on these targets, GPRO could surge 70.45% to reach the target high and rise by 22.16% to reach the target low. Reaching the average price target will result in a growth of 46.31% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GPRO stock several times over the past three months with 0 Buys and 7 Sells. In these transactions, 0 shares were bought while 52,482 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 39 over the past year. The total number of shares bought during that period was 1,098,089 while 669,382 shares were sold.
