GoPro eliminates 270 positions, still hopes to return to profitability in 2017

It opened the session with a $7.97 price tag, later ranging from $7.525 to $7.98, the range at which the stock has traded at throughout the day.

Covering sell-side analysts have recently weighed in on shares of GoPro, Inc. They now have a Dollars 9 price target on the stock. (NASDAQ:GPRO) where Goldman provided Sell rating on the stock on 6-Mar-17.

After upcoming fiscal quarter results, all eyes will be on the prospects for the next reporting quarter. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. Citigroup upgraded GoPro stock to neutral from sell. Following the sale, the general counsel now directly owns 70,662 shares in the company, valued at approximately $647,263.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Shares closed at $8.51, their highest close since March 3.

GoPro said on Wednesday that it would layoff 270 employees in its third round of cost cuts in just over a year as the troubled wearable camera-maker makes a bid to return to profitability. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,668 shares of company stock valued at $738,432.

This round of restructuring will cut operating costs for the company by more than $200 million, year over year, and position the company for new growth in hardware, software, and in worldwide markets, according to GoPro.

While the move sent shares soaring higher Thursday, analysts aren't celebrating.




Yesterday after the close, GoPro Inc.

02/03/2017 - GoPro Inc had its "perform" rating reiterated by analysts at Oppenheimer.

In the last Quarter, GoPro, Inc. Company's distance from 20 day simple moving average is -16.73% and distance from 50-Day simple moving average is -20.30%. The stock is now trading with a distance of 20-Day Simple Moving Average (SMA20) of -15.74%.

The Stock now has the market capitalization of $1.03 Billion, P/E (price to earnings ttm) of 0 and Weekly volatility of 3.49% and monthly volatility of 3.50% respectively.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Thursday, February 2nd. On the other hand, in the September 2017 quarter the company recorded a net $240.57M revenue with earnings per share of $-0.60. According to them, the median (average) EPS the company could deliver is -0.53/share. The firm's revenue for the quarter was up 23.8% on a year-over-year basis.

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