This Day On The Street
Continue to site
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 Rallies After Analyst Puts $60 Price Target on Shares

NEW YORK (TheStreet) -- Shares of GoPro (GPRO) are rallying after research firm JMP Securities initiated coverage of the stock with an Outperform rating and a price target about 50% above the stock's current level. GoPro develops image capturing products and related solutions. 

WHAT'S NEW: Noting that GoPro has sold more than 8.5M motion capture devices, JMP Securities analyst Alex Gauna wrote that GoPro has a "durable" brand and a total market opportunity of more than $70B. The company's early entry into its markets, along with its financial advantages, will enable it to generate additional revenue from many sources, Gauna stated. More specifically, the company can compete effectively in New Media, Internet advertising, fitness devices, and connected wearable products, according to the analyst. Meanwhile, GoPro has room to increase its revenue from its core "action capture" market, wrote the analyst, who initiated coverage of the stock with a $60 price target and Outperform rating.

WHAT'S NOTABLE: Last weekend, Barron's published a cautious article on GoPro, saying that the company's cameras could lose their competitive advantage once wearable mounts for smartphones are perfected.

PRICE ACTION: In early trading, GoPro jumped $2.80, or 8%, to $39.70.

Reporting by Larry Ramer.

The Fly provides comprehensive coverage of stock news and Street research and delivers it in real-time. The Fly breaks market-moving news and explains sudden stock movements in a rapid-fire, short-form story format. Follow @theflynews on Twitter. For a free trial, click here.

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
AAPL $132.54 0.88%
FB $80.54 0.07%
GOOG $540.11 -0.44%
TSLA $247.73 0.86%
YHOO $43.48 -0.44%


DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs