This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

GoPro Surges on Prospects Everyone Will Soon Own an Wearable Camera

NEW YORK (The Street) -- GoPro  (GPRO) was surging Tuesday after a report by the technology-focused investment firm JMP declared that the wearable camera maker has yet to take advantage of a myriad of growth opportunities within an industry estimated as $70 billion.

Shares of the San Mateo, Calif-based image capture and sharing company were rising 5.4% to $38.83 as JMP initiated coverage of the stock with a $60 price target and a forecast that shares will outperform most equities.

GoPro can generate advertising revenue through its own GoPro YouTube (GOOG - Get Report) Channel advertising as well as through content created with GoPro products such as its cameras and other camcorder accessories, JMP senior research analyst Alex Gauna said in a July 15 report.

"Our positive investment stance is predicated on the view that first mover and financial advantages will allow it to capitalize on a multitude of underpenetrated and/or untapped opportunities to monetize its technology and brand," Gauna wrote.



Why GoPro (GPRO) Stock Is Up Today

GoPro Sets IPO Price Range In Amended S-1


GoPro completed its IPO transaction on June 25 and, according to JMP, can growth revenue by 22% in 2014. Gauna expects another 22% revenue growth in 2015, thereby reaching $1.5 billion in sales and $2 billion in sales by 2016.

Targeting action enthusiasts, GoPro develops and produces image capture and sharing technology. The company's products also include a YouTube Channel under the brand's name which scored the most hits among branded YouTube channels in the first quarter 2014.

GoPro sold over 8.5 million motion capture devices and its YouTube channel reached more than 450 million views - channel views saw a growth revenue at a 149% compound annual growth rate from 2010 to 2013. GoPro won an Emmy for technical achievement, and is the U.S. market share leader in camcorders.

"We feel its market vision and execution have established GoPro as a durable multimedia and active lifestyle brand," Gauna wrote.

-- Written by Kathryn Mykleseth in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
GOOG $540.78 0.00%
GPRO $49.74 0.00%
AAPL $128.70 0.00%
FB $78.81 0.00%
TSLA $230.51 0.00%

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs