GoPro Tumbles to Low Since IPO After Morgan Stanley Cuts Target

Morgan Stanley, a lead underwriter on a second GoPro offering in November, maintained its rating on the technology company at the equivalent of a hold.

The stock fell as much as 5.46% to $27.73 per share during late morning trading. Several analysts, the bearish Morgan Stanley ones included, say there remains an untapped though difficult-to-quantify virtual-reality and drone opportunity that can drive long-term value for the stock starting next year. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. The stock was sold at an average price of $37.03, for a total transaction of $275,281.02.

GoPro Inc (NASDAQ:GPRO) shifted in red zone with decline of -4.31%.

The stock has a 50 day moving average price of $36.79 and a 200-day moving average price of $49.03. On October 7, 2014, the shares registered one year high at $98.47 and the one year low was seen on September 29, 2015. The disclosure for this sale can be found here. The firm has a market cap of $3.86 billion and a P/E ratio of 26.03.

Analysts at Zacks have given a short term rating of sell on GoPro, Inc. 12,799,221 shares of the company’s stock traded hands. (NASDAQ:AAPL) to buy the company, and those calls have been renewed again now that GoPro shares hit a new low this week. Piper Jaffray raised their price target on shares of GoPro from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. For the last fiscal period, the firm posted earnings of $0.25 per share for the quarter which ended on 2015-06-30. Cleveland Research cut shares of GoPro from a “buy” rating to a “hold” rating in a research note on Thursday. Oppenheimer reaffirmed a “neutral” rating on shares of GoPro in a research note on Wednesday, July 22nd. The company earned $419.92 million during the quarter, compared to the consensus estimate of $395.17 million. The firm’s projection is the lowest by $US10 among 15 analysts who have issued target prices in the past three months, according to data compiled by Bloomberg. Moreover, the Company provides and develops programs that are mobile and desktop editing software at no cost to consumers. The Business offers HERO line of capture devices, including HERO3 camera HERO2, the HERO3+ camera along with the HERO4 and HERO. The Organization also supplies a collection of mounts made to enable content to be captured by consumers while participated in a range of activities. Including equipment-established mounts, like the helmet, handlebar, handle and tripod, together with roll bar mounts. What’s bad for the goose is indeed also awful for the gander, given the close business relationship between these two companies.