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JMP Securities: 'Buy Now' Before GoPro Doubles

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JMP Securities used Ambarella Inc's (NASDAQ: AMBA) earnings report on Tuesday as cause to turn more bullish on GoPro Inc (NASDAQ: GPRO) Wednesday morning. The analysts reiterated a Market Outperform rating and $105 price target on the stock.

Shares of GoPro traded recently at $41.60, up 3.2 percent.

JMP Securities modeled GoPro growth of 48 percent and 43 percent for the March and June quarters, respectively, with higher gross margins and a 30 percent revenue growth. The analysts said that FY15 non-GAAP EPS will be at $1.50, an increase from prior estimates of $1.45 and above the consensus estimates of $1.38. With the February lock-up expiration past, the analysts encouraged investors to start accumulating GoPro shares.

JMP identified several catalysts moving forward, including Hero4+ upgrade cycle, a cloud platform introduction, and expansion of GoPro's ability to harness new media opportunities.

Latest Ratings for GPRO

DateFirmActionFromTo
Sep 2018OppenheimerUpgradesPerformOutperform
May 2018CitigroupMaintainsNeutralNeutral
Mar 2018CitigroupMaintainsNeutralNeutral

View More Analyst Ratings for GPRO
View the Latest Analyst Ratings

Posted-In: JMP SecuritiesAnalyst Color Analyst Ratings Trading Ideas

 

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