JMP Securities Initiates Coverage On GoPro, Inc.

In a report released Tuesday, JMP Securities analyst Alex Gauna initiated coverage on GoPro, Inc. GPRO giving the company a Market Perform rating and a price target of $60 a share. Analyst at JMP Securities believes GoPro presents opportunity in branded YouTube channel. GoPro so far has sold nearly 8.5 million devices and has 450 million GoPro Channel views. Gauna states GoPro has grown its revenue at a 149 percent CAGR from 2010 to 2013 and currently projects the company's revenue to grow by 22 percent in 2014, following a forcast of 1.5 billion in 2015.