GoPro (GPRO) has a market cap of $1.3 billion and fell 3.0% to close at $9.07 per share on January 6, 2017. The stock’s weekly, monthly, and YTD (year-to-date) price movements were 2.6%, -7.0%, and 4.1%, respectively, on the same day.
GPRO is now trading 1.0% above its 20-day moving average, 10.5% below its 50-day moving average, and 24.8% below its 200-day moving average.
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GPRO’s rating and performance in 3Q16
On January 6, 2017, Longbow Research has downgraded GoPro’s rating to “underperform” from “neutral” and has set the stock’s price target at $7.0 per share. GoPro (GPRO) reported 3Q16 revenues of $240.6 million—a fall of 39.9%, as compared to revenues of $400.3 million in 3Q15. The company’s gross profit margin fell 630 basis points in 3Q16 compared to 3Q15.
Its net income and EPS (earnings per share) fell to -$104.1 million and -$0.74, respectively, in 3Q16 compared to $18.8 million and $0.13, respectively, in 3Q15. It reported adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) and adjusted EPS of -$73.6 million and -$0.60, respectively, in 3Q16, as compared to $56.7 million and $0.25, respectively, in 3Q15.
GPRO’s cash and cash equivalents and inventory fell 52.9% and 22.8%, respectively, in 3Q16 compared to 4Q15.
GoPro (GPRO) made the following projections for 4Q16:
- revenues: $600 million–$650 million
- gross margin: 39%–41%
- non-GAAP (generally accepted accounting principles) EPS: $0.25–$0.35
- tax rate: 12%
The company projected revenues in the range of $1.25 billion–$1.30 billion for fiscal 2016.
GoPro (GPRO) made the following projections for fiscal 2017:
- expected revenue growth in double digits
- operating expense of ~$735 million
- tax rate of ~15%
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