We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shares of GoPro (GPRO - Free Report) plummeted on Wednesday, just one day after the company’s stock price climbed on the back of a significant Goldman Sachs upgrade.
The action camera company gained roughly 5% on Tuesday after Goldman Sachs’ (GS - Free Report) analyst Doug Clark upgraded GoPro from a "sell" rating to “neutral.” Clark also upped his price target for the struggling company to $10 per share from $6.75 a share.
The company’s stock price jumped yesterday because the Goldman analyst suggested that investors should place their faith in GoPro’s upcoming product launches, which he noted have helped the company’s stock after previous launches.
Still, it seems that investors aren’t buying the renewed positivity for the action-camera pioneer. Shares of GoPro fell 5.21% on Wednesday, and the company’s up and down last two days are somewhat in line with its turbulent 2017.
GoPro is projected to release the latest model of one of its most popular cameras, the Hero6, in the second half of 2017. Maybe more importantly, GoPro is expected to debut its first ever 360-degree, VR-compatible camera, the Fusion, in 2018. There are also rumors that the company will launch its second drone-based camera as well.
Clark’s positive projections possibly stem from GoPro’s recent second-quarter report in which the company showed some major improvements year-over-year. Last quarter marked GoPro’s third consecutive quarter of revenue growth, after four straight quarterly sales declines.
Only time will tell if GoPro’s new cameras will help the company return to its once-lofty heights. For now, GoPro is a Zacks Rank #3 (HOLD) and scored an “A” grade for both Growth and Momentum in our Style Score system.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
GoPro Stock Tanks One Day After Upgrade
Shares of GoPro (GPRO - Free Report) plummeted on Wednesday, just one day after the company’s stock price climbed on the back of a significant Goldman Sachs upgrade.
The action camera company gained roughly 5% on Tuesday after Goldman Sachs’ (GS - Free Report) analyst Doug Clark upgraded GoPro from a "sell" rating to “neutral.” Clark also upped his price target for the struggling company to $10 per share from $6.75 a share.
The company’s stock price jumped yesterday because the Goldman analyst suggested that investors should place their faith in GoPro’s upcoming product launches, which he noted have helped the company’s stock after previous launches.
Still, it seems that investors aren’t buying the renewed positivity for the action-camera pioneer. Shares of GoPro fell 5.21% on Wednesday, and the company’s up and down last two days are somewhat in line with its turbulent 2017.
GoPro is projected to release the latest model of one of its most popular cameras, the Hero6, in the second half of 2017. Maybe more importantly, GoPro is expected to debut its first ever 360-degree, VR-compatible camera, the Fusion, in 2018. There are also rumors that the company will launch its second drone-based camera as well.
Clark’s positive projections possibly stem from GoPro’s recent second-quarter report in which the company showed some major improvements year-over-year. Last quarter marked GoPro’s third consecutive quarter of revenue growth, after four straight quarterly sales declines.
Only time will tell if GoPro’s new cameras will help the company return to its once-lofty heights. For now, GoPro is a Zacks Rank #3 (HOLD) and scored an “A” grade for both Growth and Momentum in our Style Score system.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >>