Published: Fri, March 17, 2017
Business | By Sandy Mccarthy

GoPro Surges After Job Cuts Bring Elusive Profit Goal Closer

GoPro Surges After Job Cuts Bring Elusive Profit Goal Closer

(NASDAQ:GPRO) puts the stock on today's active list. GoPro's advance was a dubious achievement, as the company's shares on Wednesday fell to an all-time low of $7.14.

Forbes is reporting that one of their sources claims those cuts are primarily targeting GoPro's virtual reality and broadcasting wings, though this has not been confirmed by the company. The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 1.80 on scale of 1-5. The company reported its last quarter on Dec 16.

While if we look at the Earnings Track Record, GoPro, Inc.

For the quarter ending 11/03/2016, The Analyst projected that the company could deliver EPS of -0.35 while the company provided its Actual EPS of -0.6 showing a difference of -0.25 Percent between the Estimated and Actual EPS. This showed the surprise of 31.8% in the last quarter earnings. It has attracted short sellers, too, with 30% of its shares now being shorted.

Shares of GoPro (GPRO) are surging Thursday after the camera maker said it would cut 270 jobs and will meet the high-end of its revenue forecast for the first quarter.

GoPro Inc (NASDAQ:GPRO) had its target price reduced by Stifel Nicolaus from $10.00 to $9.00 in a research note issued to investors on Thursday. The median estimate represents a +8.98% increase from the last price of 7.57.

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"We're determined that GoPro's financial performance match the strength of our products and brand", founder and CEO Nicholas Woodman says.

For the current quarter, the highest estimate analysts provided is 209.8 Million and the lowest is 180 Million. That puts the market capitalization at $1.07 bln.

The Company now has Insider ownership of 0.7 Percent and Institutional Ownership of 44.7 Percent. The Return on Investment (ROI) is at -93.3% while it's Return on Equity (ROE) value stands at -75.1%.

02/03/2017 - GoPro Inc had its "perform" rating reiterated by analysts at Oppenheimer. Woodman said the company has shifted its culture toward efficiency and will cost cuts "dramatically".

Goldman Sachs raised its price target to $6.50 from $6. Other firms include Citigroup giving Sell rating on 3-Mar-17.

Covering sell-side analysts have recently weighed in on shares of GoPro, Inc.

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