GoPro sees shares tumble out of focus

In the past 52 weeks, shares of the solar systems developer have traded between a low of $18.25 and a high of $35.11 and are now trading at $27.08. Along the same vein, I also want to know how GoPro users have responded to its latest app updates, including new trim-and-share features to enable the creation and upload of short video clips directly from GoPro devices.

GoPro went public in June 2014 at 24 and ended its first day of trading at 31.34. GoPro will bolster its marketing spend for the fourth quarter, Woodman said, including a return to television advertising following a year’s absence.

GoPro took a dive Wednesday after releasing Q3 financials that disappointed street expectations.

Analysts on average had expected the company to earn a profit of 29 cents per share on revenue of $433.6 million, according to Thomson Reuters I/B/E/S.

For 2017, the analysts said they believe there will be “no growth” in the company’s action camera segment, but other products will generate $500 million in revenue.

So what: Quarterly revenue rose 43% year over year to $400.3 million, Driven largely by global strength including 175% combined growth in the EMEA and APAC regions. The analyst firm also lowered its price target for the company’s stock to $20 from $25. Meanwhile, Q4 earnings are expected to fall 17% to $0.82 per share.

GoPro, Inc., formerly Woodman Labs, Inc., develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing and enjoying engaging content. The Company’s mountable and wearable cameras and accessories, which the Company refer to as capture devices, enable professional-quality capture and exceptional versatility. However, they are becoming less expensive and that is alarming those on Wall Street.

Back in May we learned that GoPro is making drones.

Nevertheless, GoPro’s weak results stoked broader concern that demand for its action cameras is drying up as competition intensifies with rivals like Sony and China’s Xiaomi jumping in.

“This experience taught us how hard it is to sell against GoPro and our premium HERO4 Silver and Black products”, he said.

“We think the higher inventory & severe reversal of sales trends will keep an incremental buyer away from shares”, the analysts wrote.