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GoPro Shares On The Move Following Piper Jaffray Upgrade

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GoPro Shares On The Move Following Piper Jaffray Upgrade
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Shares of GoPro Inc (NASDAQ: 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.

Latest Ratings for GPRO

DateFirmActionFromTo
Mar 2017CitigroupUpgradesSellNeutral
Mar 2017Goldman SachsDowngradesNeutralSell
Mar 2017CitigroupInitiates Coverage OnSell

View More Analyst Ratings for GPRO
View the Latest Analyst Ratings

Posted-In: Erinn Murphy Piper JaffrayAnalyst Color Upgrades Price Target Analyst Ratings Movers Best of Benzinga

 

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