GoPro believes it will be able to help users license their videos, just like YouTube doesGoPro Inc ( GPRO) shares have rallied more than 24% since the company reported strong third-quarter results last Thursday. The action camera maker also forecast solid sales for the current quarter. Over the past few days, analysts have been scrambling to upgrade their ratings on the stock and raise their estimates. Sign up for our free daily newsletter GoPro videos received 72 million views on YouTube in Q3 GoPro earned 12 cents a share on revenue of $280 million in the latest quarter. Analysts polled by Thomson Reuters were expecting $266 million in revenue and 8 cents in EPS. For the current quarter, the company guided sales of $550 million to $580 million and EPS of 65-69 cents, well above the consensus projection of 55 cents in EPS and $505 million in sales. GoPro said at the earnings call that its newly launched Hero 4 is selling like hot cakes. GoPro users upload and share their adventurous videos on social networking sites and video platforms such as YouTube and Vimeo. The company plans to start monetizing its content through licensing. JPMorgan analysts say GoPro might allow ads on its YouTube channel and provide video editing services to create additional revenue streams. Raymond James analyst Tavis McCourt said in a research note that the company’s YouTube channel monthly view soared 99% YoY to 72 million during the September quarter. Total minutes watched also skyrocketed 133% YoY. Content submission increased 160% from September to October. GoPro’s Xbox channel also received 6.5 million views during July-September period.