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.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

WWE Fans React To Shane McMahon Going Through A Car Window
The Miz and Maryse have physically attacked and called out John Cena and Nikki Bella in recent weeks, and it has become too much. But McMahon wasn't going to let things slide that easily, hobbling out to the ramp to confirm the two will meet at WrestleMania.

Mobile 'ghost calls' to 911 linked to two deaths in Dallas
The CEO of T-Mobile has promised to send the company's top engineers to the city and leave them there until the problem is fixed. Over the weekend, the 911 system in Dallas became overloaded with so-called "ghost calls" originating from T-Mobile devices.

Gas price war erupts on Houston's south side
Consumers could see a 10-cent drop in retail gasoline prices before a sharp rise expected by Memorial Day, according to AAA. That did not happen, with the US average falling 2 cents a gallon in the last week to $2.29 this morning.

Intel To Buy Assisted Driving Tech Firm Mobileye for $15.3 Billion
Mobileye and Intel already are collaborating with BMW on a project that will see the production of 40 self-driving test cars. At a price of $63.54 per share, the offer for Mobileye is a more than 34% premium from its March 10 closing price of $47.27.

Oil tanker hijacking: Somali pirates 'release the ship'
Somali maritime police attempted to intercept a boat that was carrying supplies to the pirates but were fired at by the hijackers. Pirates argued that they are fighting illegal ships and boats which are collecting their natural resources, mainly the fish.

Bees of all stripes to get help from Cheerios' mascot, Buzz
And in an effort to cultivate bee populations, Cheerios has partnered with Veseys Seeds to offer free packets of wildflower seeds. Among the many foods that require bees are apples , mangos, peaches, strawberries, carrots, tomatoes, and grapes.

Gideon Sam: No one is to blame for loss of Commonwealth Games
When rumours about Durban's ability to host the Games first emerged, the city of Liverpool said it would be willing to take over. Durban was the only city to launch a formal bid to host the Games after Edmonton in Canada withdrew.

Twitter Disapproves Of Your $95 Mom Jeans With Clear Plastic Knee Windows
These are cool mom jeans - they feature a rectangular cut-out of clear plastic over the knee. "I love me a sweaty knee". But one snarky reviewer says the jeans are also "a successful resolve to the conundrum of maintaining your knee tan".

Merkel flies in for Trump meeting flanked by German CEOs
The two leaders have been critical of each other's policies in the past, particularly immigration-related decisions. In January, Trump himself suggested to Germany's largest newspaper that a tariff on BMW imports could be in order.

Unemployment stay steady at 3.3% in Nebraska
Auburn-Opelika metro area average weekly wages were up from $618.43 in January 2016 to $664.35 in January 2017. Average weekly earnings measured $789.66 in January, up from $783.13 in December, and $768.58 in January 2016.

'The Flash': Candice Patton on Barry and Iris' Growing Rift
Jesse uses the shard to stab through a chink in the armor, and it wounds him, sending him running away. Even Iris and Barry's break up felt rushed and a little anticlimactic in the grand scheme of things.

Vikings Sign Former Packers LB/DL Datone Jones
The contract is for one year and is worth $3.75 million with a chance to be as high as $5 million, according to Mike Garafolo . Elliot missed five games this past season but led the Packers in special teams tackles.

Boaty McBoatface set for first scientific mission
A future mission for Boaty will be to attempt the first-ever under ice crossing of the Arctic Ocean. The public voted overwhelmingly to name the ship " Boaty McBoatface ".

Samsung Galaxy Note 5 Feb 2017 Security Patch
February promotions from AT&T and T-Mobile also helped drive Samsung Galaxy S7 inventories down to healthy levels, the firm noted. While most devices are expected to be equipped with 4GB RAM, China and Korea could see Samsung Galaxy S8 release with 6GB RAM.

Joe Biden Is Back and Ready to Take Down Cancer
In a rallying cry to convince the "most innovative minds in the world" to join him in his efforts, Biden conveyed a message of hope on Sunday afternoon in Austin , Texas.


More News

News
More News