Why GoPro (GPRO) Stock Is Rising Today

NEW YORK (TheStreet) -- GoPro (GPRO) shares are up 0.7% to $68.98 on Thursday after analysts at Citigroup (C) hiked their price target to $70 from $42.

The upgraded outlook coincides with the firm upping its third quarter revenue estimate to $297 million from $261 million, ahead of the company's own guidance range of between $255 and $265 million.

The firm believes that the company is moving away from the niche adventure enthusiasts market into the mainstream and that the release of its new Hero4 products in mid-October before the holiday season bodes well for its quarterly bottom line.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

GPRO Chart GPRO data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.

More from Markets

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%