Price movement of GoPro

GoPro (GPRO) has a market cap of $2.0 billion. GPRO rose by 0.07% to close at $14.61 per share as of January 13, 2016. The price movement on a weekly, monthly, and year-to-date (or YTD) basis is -20.6%, -23.7%, and -18.9%, respectively.

GoPro Rose Slightly on Preliminary 4Q15 Results

Technically, the stock has broken support levels and is trading below all moving day averages. Currently, GoPro is trading 17.9% below its 20-day moving average, 26.6% below its 50-day moving average, and 63.8% below its 200-day moving average.

The iShares Morningstar Small-Cap Growth ETF (JKK) invests 0.29% of its holdings in GoPro. The ETF tracks a market-cap-weighted index of US small-cap growth stocks. The index selects stocks with market caps of 70% to 90%. The YTD price movement of JKK is -9.4% as of January 12, 2016.

The market caps of GoPro’s competitors are as follows:

  • Canon-ADR (CAJ): $38.2 billion
  • Sony (SNE): $29.6 billion
  • Best Buy (BBY): $10.0 billion

GoPro’s preliminary results for 4Q15 and fiscal 2015

The company reported the following 4Q15 preliminary results:

  • revenue of ~$435.0 million, which includes a $21 million reduction for price-protection-related charges resulting from the HERO4 Sessions repricing in December
  • non-GAAP gross margin in the range of 34.5% to 35.5%
  • non-GAAP operating expense in the range of $150.0 to $152.5 million

The company reported the following fiscal 2015 preliminary results:

  • revenue of $1.6 billion
  • cash, cash equivalents, and marketable securities of ~$475 million on December 31, 2015

To increase its growth, the company has implemented a reduction in workforce of ~7%. The company will incur ~$5 million to $10 million of restructuring expenses in 1Q16, all of which will be severance costs.

The PE (price-to-earnings) and PBV (price-to-book value) ratios of GoPro are 12.2x and 2.4x, respectively, as of January 13, 2016.

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