GoPro, Inc. (GPRO) Receives "Buy" Rating from JP Morgan Chase & Co

GoPro has struggled to convince people to shell out hundreds of dollars on a camera when they can use their smartphone at no extra cost

For the third quarter, the company expects to post even higher revenues of $290-$310 million, but analysts had projected a third-quarter loss of 12 cents a share on revenue of $278.5 million. As per Thursday, February 4, the company rating was maintained by Wedbush. Stifel Nicolaus reiterated a "hold" rating and set a $9.00 price target on shares of GoPro in a report on Monday, April 17th. Dougherty & Co reiterated a "sell" rating and issued a $5.00 target price on shares of GoPro in a research report on Tuesday, April 25th. It dropped, as 44 investors sold GoPro Inc shares while 60 reduced holdings. ValuEngine upgraded GoPro from a "strong sell" rating to a "sell" rating in a research report on Friday, June 2nd.

Additionally on 3/16/17 Citigroup "Upgrades" Gopro Inc Cl A Cmn (NASDAQ:GPRO) to Neutral setting price target at $0 and on 3/06/17 Goldman Sachs "Downgrades" the stock to Sell at $0. (NYSE:M), 6 have Buy rating, 1 Sell and 24 Hold.

Brown Brothers Harriman has invested 0% in GoPro Inc (NASDAQ:GPRO).

About 23.03 million shares traded or 971.16% up from the average. For the current year the company's revenue estimates are $1.35 Billion compared to low analyst estimates of $1.12 Billion and high estimates of $1.46 Billion according to 14 number of analysts.

GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, August 3rd.

Despite all the gains, the second quarter still saw a loss of $30 million for GoPro, although that's only a third of what GoPro lost in the same quarter previous year. The firm had revenue of $296.52 million during the quarter, compared to the consensus estimate of $268.94 million.

Among 22 analysts covering GoPro Inc (NASDAQ:GPRO), 5 have Buy rating, 5 Sell and 12 Hold.

COPYRIGHT VIOLATION NOTICE: "TIAA CREF Investment Management LLC Buys 2,347 Shares of GoPro, Inc. (NASDAQ:GPRO) Receives "Buy" Rating from J P Morgan Chase & Co" was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece on another website, it was stolen and reposted in violation of U.S. and global copyright laws. Following the transaction, the director now owns 142,011 shares of the company's stock, valued at $1,205,673.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Other large investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of GoPro by 3.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company's stock worth $183,000 after buying an additional 695 shares during the period. Legal & General Group Plc boosted its position in shares of GoPro by 2.3% in the second quarter. Geode Capital Management LLC now owns 804,345 shares of the company's stock valued at $6,997,000 after buying an additional 70,449 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in GoPro by 5.3% in the first quarter. Bessemer Gp Inc holds 0% of its portfolio in GoPro Inc (NASDAQ:GPRO) for 63 shares. The firm owned 274,610 shares of the company's stock after buying an additional 2,347 shares during the period. Engineers Gate Manager LP purchased a new position in shares of GoPro during the first quarter valued at about $118,000.

GoPro Inc forecast a smaller-than-expected loss, and said it was on track to launch the latest version of its flagship camera by the holiday season, as the company seeks to achieve its goal of returning to adjusted profitability in 2017.

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