GoPro Inc. Gets Lift From Pacific Crest Comments

GoPro Inc.

yo-yoed back up a few points Monday after an analyst said holiday shoppers lusted for its action cameras. Pacific Crest's Brad Erickson made the observation based on checks at big-box stores but maintained a Sector perform rating on the company because of its relatively rich price. GoPro traded recently at $67.10, up 3.6 percent. Wedbush Securities Michael Pachter made similar comments on CNBC TV Monday, suggesting GoPro is "just going to crush it in December" and also post a strong March quarter. Amazon said Friday that the holiday best seller in its camera category was the GoPro Hero4 and related accessories. Yet the shares on Monday had fallen 6 percent after Dougherty & Co.'s Charles Anderson said Internet searches for the term GoPro were up just 35 percent last week, compared with 88 percent during the week leading up to Father's Day 2014. During the past three months, GoPro shares have lost more than a quarter of their value and yet are still trading about 112 percent above their initial offering price in June. Pacific Crest's Erickson said strong sales for GoPro could bode well for video chip supplier Ambarella Inc.

, which spiked earlier Tuesday but traded recently at $53.28 down $0.76 cents. Reiterates sector perform rating for GPRO, citing valuation Sees GPRO trends as positive for supplier Ambarella; sees AMBA upside to $70 on strong N-T trends and ahead of CES