For the full year, analysts now project a loss of 21 cents per share, but they expect the company to get profitable by the next financial year, at the end of which, EPS is projected to be around 14 cents a share.
Weighed down by lack of product innovation in a highly competitive market, GoPro’s sales will decline 17% year-over-year to $271.87 million in Q3, according to analysts’ estimates.
GPRO stock has been flattish the since beginning of the year. In the past 52 weeks, its shares have fallen as much as 41%.
The company currently has a consensus analyst rating of HOLD, with six out of the 14 analysts covering the stock recommending this. The stock has an average price target of $7.50, which is at a 24% upside from Monday’s intraday trading price of $6.04.
A few major investment firms still have been taking advantage of the cheap pricing of the stock and raising their stake in the company. While Schwab Charles Investment Management Inc. raised stake in GoPro by 14.1%, Blackrock lifted its stake by 9.1%. A few other firms including BNP Paribas Arbitrage, HSBC Holdings and California Public Employees Retirement System have also bought more shares of GoPro.