GoPro Shares On The Move Following Piper Jaffray Upgrade

Shares of GoPro Inc GPRO are trading up nearly 2 percent in Tuesday's post-market session following an after-hours upgrade from Piper Jaffray's Erinn Murphy. The analyst now rates GoPro shares as an Overweight, up from Neutral previously. Murphy set a $55 price target on the stock.

Murphy cited a recent Piper Jaffray survey which suggested increasing uptake of the company's devices. The firm's survey showed family ownership approaching 18 percent, up from under 13 percent in 2014.

The Piper Jaffray analyst's call comes exactly two weeks ahead of the company's first-quarter results. Late last week, on Thursday, GoPro published a press release confirming earnings will be issued after the market close on April 28. The current analyst consensus estimate for earnings sits at around $0.18 per share, while sales are expected around $340 million.

With GoPro shares last trading at $45.25 in after-hours trade, Murphy's price target implies potential upside of about 22 percent.

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