Market Overview

GoPro Poll: 76% Expect Stock To Open Under $8 Following Big Earnings Miss

GoPro Poll: 76% Expect Stock To Open Under $8 Following Big Earnings Miss

GoPro Inc (NASDAQ: GPRO), the beleaguered action-camera maker and broken-down stock, did not have a very good night.

GoPro announced dismal fourth-quarter revenues and a loss per share in its Q4 earnings report released after Wednesday's market close. GoPro reported a fourth-quarter loss of $0.08 per share versus analyst consensus of $0.00. Fourth-quarter sales were sluggish, with the company recording $436 million in sales against analyst estimates of $496 million.

The company expects Q1 sales of $160-$180 million versus estimates of $300 million and FY 2016 sales of $1.35-$1.5 billion vs. $1.61 billion estimates.

See Also: GoPro Posts Big Q4 Miss; Guidance Nearly 40% Below Estimates

Ahead of the report, the stock ticked up in the after-hours session, but was halted a few moments before the release. When the stock resumed trading at 5 p.m. ET, it plummeted 20 percent from its $10.71 closing price.

So, what do you think GoPro will open at Thursday morning? According to a Twitter poll, the stock's prospects aren't very good.

Seventy-six percent think the stock will open at or below $8, with a hefty 49 percent of those leaning towards a $7 or lower open. The poll received 217 votes.

In Thursday's pre-market action, the stock was trading down 11.7 percent at $9.45.

Earlier January, Wedbush analyst

Time will certainly tell.

Posted-In: Earnings News Guidance Crowdsourcing Pre-Market Outlook Movers Tech General Best of Benzinga


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