Company is back to being profitable (previous 4 quarters were losses), and back to growing (previous 4 quarters were -30 to -50% y/y revenues, yuck).
Gopro is a fanboy product, they won't be taken out so easily. In my opinion, this will soon be a good stock to go long on.
$GPRO Don't see a reason to buy now long term investors will have a better choice than this one only in a sustained downtrend.
Its definitely got the brand recognition, people go looking for a gopro like they go looking for an ipad instead of a tablet. My argument is that equally capable cameras and much cheaper prices keep arriving!
The last two times it got down to this level, it spent a few days there holding support before heading back up. Could this be another situation like that? Nice risk/reward if you're willing to set a fairly tight stop and cut your losses if it drops. Just got in at $8.76, and I'll be cutting my losses at $8.35 if it doesn't hold support.
Yes, it is down from Goldman Sachs. Here's what they had to say and are calling for target of 6 bucks. GoPro (GPRO) is falling Monday, following a bearish note from Goldman Sachs. Analyst Simona Jankowski and her team cut their rating on GoPro to to Sell from Neutral, and lowered their price target to $6, which represents some 30% downside. Jankowski writes that GoPro faces "significant" challenges given the saturation of its core action cameras market, as well as product rollout issues that dogged it during the holiday season and its disappointing entry into the drone market. These factors, along with a big ramp up in operating expenses in the past two years and restructuring charges, makes Jankowski forecast negative free cash flow until the fourth quarter, which could reduce its cash balance and may mean it needs to tap its credit facility. She warns that the Street's estimates still look too high, and thinks the shares are overvalued at 0.9 times enterprise value to sales, compared to 0.4 times for Fitbit (FIT). More detail from the note: We lower our estimates below consensus as we expect GoPro to continue to struggle fundamentally. In its core action camera market, the company exited a disappointing holiday season with excess inventory, as noted by key supplier Ambarella (AMBA). It also faces a new competitor, YI Technology, whose products are competitive with GoPro's but at a $ 100 (25-33%) lower price point. Meanwhile, GoPro's recent restructuring, which eliminated its entertainment group, may reduce its ability to differentiate through content. In drones, GoPro's new entry with the Karma lags competitor DJI in several key features and performance metrics, which makes it unlikely that it will gain significant share. We reduce our 2017/18/19 non-GAAP EPS estimates to ($0.70)/($0.31)/$0.13 from ($0.62)/($0.30)/$0.40 on lower revenue forecasts. GoPro shares are down 2.6% to $8.61 in morning trading, and have fallen more than 30% in the past year. (END) Dow Jones Newswires 03-06-17 1001ET Copyright (c) 2017 Dow Jones & Company, Inc.
$GPRO a lesson in not getting married to the past. Many losing so much and maybe it all posted by Greg_Capra on stocktwits.com Interesting opinion!
The only thing GPRO is good for now a days IMHO is for short term swing trades on buy signals. But, even using buy signals is much more risky on an overall down trending stock when compared to buy signals for swings on overall up trending stocks. Risk just does not compare and there are too many decent swing trades to increase the risk for GPRO. This one is dead to me!
