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Citigroup Analysts Chat With GoPro Executives At CES

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Citigroup Analysts Chat With GoPro Executives At CES
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Ehud Gelblum of Citigroup attended the 2015 CES and spoke with GoPro Inc's (NASDAQ: GPRO) management team.

GoPro's Chief Financial Officer Jack Lazar told Gelblum that the company believes the market for GoPro capture devices is “largely under-penetrated” as new use-cases continue to emerge.

According to Gelblum, the company is looking to transition to a direct distribution model in Europe and expand its base of retailers in the continent. Lazar did state that the transition may take time, implying the possibility that growth outside of the U.S. could remain “relatively muted” in 2015, as the company is unlikely to open its own stores abroad (and in the U.S.) in the near-term.

Gelblum also states that based on discussions with the company's executive, merger and acquisition activity has not been ruled out as acquisitions could accelerate GoPro's media strategy.

However, the analyst does conclude by stating that GoPro's growth and profitability remain driven by shipments of capture devices for the next several years.

Shares of GoPro traded recently at $64.12, down 1.2 percent.

Latest Ratings for GPRO

DateFirmActionFromTo
Jan 2018Longbow ResearchDowngradesBuyNeutral
Nov 2017CitigroupMaintainsNeutral
Oct 2017Bank of AmericaMaintainsUnderperform

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Posted-In: CES Citigroup Ehud Gelblu Jack LazarAnalyst Color News Events Analyst Ratings Best of Benzinga

 

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