GoPro Inc. (GPRO) released second quarter fiscal 2015 earnings on July 21, crushing Wall Street expectations and proving that the action hardware company isn't ready to slow down any time soon. The company has managed to snap up even more sales in the second quarter as it celebrates the end of its first year as a publicly traded company. Here are the 7 top analysts' opinions who have covered GoPro over the successful year:
1. Charlie Anderson of Dougherty last rated GoPro on April 21, stating that he believes “GoPro has established itself as one of the most valuable brands in consumer” The analyst reiterated a Buy rating on GoPro stock with a $55 price target noting that the company has “significant headroom to grow as it expands overseas and extends the brand to new device categories.” He most recently commented that the company “reversed many downtrends” in his model, which he attributed primarily to the announcement of its newest camera, the HERO4 session. In regards to GoPro's upcoming earnings, Anderson observes, “GoPro's anticipated Q2 success isn't only tied to its newly announced Hero4 Session,” but that 360 video, better software, and a planned portal should further expand the lead.
Charlie Anderson has rated GoPro a total of 14 times since July 2014, earning a 75% success rate recommending the stock and a +33.2% average return per GPRO recommendation when measured over a one-year horizon and no benchmark.
2. William Power of Robert W. Baird last rated GoPro on April 29, reiterating a Buy rating while raising his price target to $63 from $57. In his report the analyst cites that GoPro recently acquired France-based virtual reality company Kolor. The analyst believes Kolor “should add to GPRO's technology arsenal,” and points out “potential [for] future virtual reality influenced products.” Power adds that “the combination of growth and valuation” is extremely attractive.” The analyst most recently commented on the camera market, concluding that the space is “still expanding and [GoPro] has a significant lead over the competition.”
