GoPro to lay off 270 more employees

Consumer Goods Sector Movers: GoPro, Inc. (GPRO), International Paper Company (IP)

This rating was issued on 3/06/17. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision. What's more surprising is that it took GoPro this long to realize it, and that it ever thought mainstream consumers would purchase action cameras in meaningful volumes to capture everyday activities.

Considering the performance, GoPro, Inc. They now have a Dollars 13 price target on the stock. (NASDAQ:GPRO) to Underperform with a price target of $7.

That said, after news of more job cuts and the pre-announcement of first quarter earnings, GoPro stock jumped 11 percent and continues to be on the rise this morning. As of 2017-03-15, the stock ABR is 3.69 in 1-5 range. Investors might also notice that three month ago the Buy recommendations (4) outnumbered Sell recommendations (1). Last quarter around 30% of the VP-level positions were eliminated.

Once-mighty action-cam and drones player GoPro has reduced its workforce by nearly 300 employees in an effort to reduce operating costs.

Shares of GoPro (NASDAQ:GPRO) opened at 7.35 on Thursday. "Our 1Q17/FY17/FY18 EPS estimates are now ($0.40)/$0.15/$0.43 vs. ($0.47)/($0.43)/($0.27) previously". Hence, the surprise factor was -71.4 percent. "However, we still do not forecast sufficient earnings power to support the stock's current valuation".

Wedbush analyst Nick McKay, who has a neutral rating and $9 12-month price target on the stock, said he remains "unwilling to recommend GoPro shares". The stock touched its high share price of $17.68 on Oct 5, 2016 and the stock also touched its Lowest price in the last 52-weeks of trading on Mar 13, 2017 as $7.53. Company's distance from 20 day simple moving average is -16.73% and distance from 50-Day simple moving average is -20.30%. The Moving Average SMA50 is -18.44% while SMA200 is -34.55%. (NASDAQ:GPRO) equity is positive. The stock now shows its YTD (Year to Date) performance of -13.09 percent while its Weekly performance value is -7%. MSI Financial Services Inc boosted its stake in GoPro by 42.9% in the third quarter. They now have a United States dollars 5 price target on the stock.

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