NEW YORK (TheStreet) - GoPro (GPRO) , the maker of high-definition personal cameras popular with action sports fans, shares slid more than 5% on Monday, despite analysts' optimistic expectations about the cameras' holiday sales.
GoPro is also developing a line of consumer drones with high-def cameras attached to them, The Wall Street Journal reported on Friday. The company is expected to begin selling the drones, priced between $500 and $1,000, in late 2015, the article said.
Shares were down 5.1% to $73.94 at last check. Here's what analysts had to say:
Brad Erickson, Pacific Crest Securities (Sector Perform)
"We braved third-party retail stores on Black Friday. We detected particularly strong demand for the discounted Hero 3+ Silver Edition, which was being bundled with various combinations of memory cards, accessories, mounts and/or additional gift cards depending on the retailer, for $250 (normal camera-only price is $300). Several stores we visited had sold out of their allotment on Thanksgiving evening, which was encouraging.
We found retailers still had plenty of Hero 4 (Black and Silver) inventory as of Friday midday. We think this was more of a case of being extremely well prepared for a busy holiday weekend rather than any disappointing sell-through. We will be watching for how Hero 4 sell-through tracks from here, as we believe this will be key if GoPro is to see a better-than-seasonal March quarter. Valuation keeps us sidelined on GPRO despite strong holiday demand we have found thus far."