Everyone Loves GoPro
Everyone loves GoPro. It has some of the most consistently high social sentiment you'll see in the LikeFolio app, hovering around 95% positive:
That's a very enthusiastic fan base.
Unfortunately, social volume has been dropping like a rock since around July of 2015— less people talking about GoPro and far less expressing purchase intent of its products.
The stock has subsequently taken a beating as sales dropped and estimates were revised lower. But instead of focusing on that painful past, let's see what the future holds for the company.
Technicians are liking what they see in the stock
They weren't the only ones… @SteadyTrader also had some bullish technical notes on the stock.
Social Data is improving markedly
After 5-6 months of massive drops in social volume, GoPro is finally starting to get some legs underneath of it. We have now seen months of steady increases in purchase intent and volume, while sentiment remains at characteristically high levels.
That's great news for the company– the bleeding has stopped on main street and consumers are starting to get more enthusiastic about their products.
The bottom line
GoPro's social and technical data look good here. The stock has bounced nicely over the past couple of weeks, but there could still be significant room to run.
Latest Ratings for GPRO
|Jan 2017||Longbow Research||Downgrades||Neutral||Underperform|
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.