GoPro, Inc. (GPRO - Free Report) was a big mover last session, as the company saw its shares rise more than 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 4.9% in the past one-month time frame.
The stock gained after GoPro announced that its revenues and gross margin for the third quarter of 2017 are likely to be at the higher end of their previously announced ranges of $290-$310 million and 36%-38% respectively.
The company has seen four positive estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for GoPro. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
GoPro currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the Consumer Discretionary sector is Sony Corporation (SNE - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is GPRO going up? Or down? Predict to see what others think: Up or Down
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