GoPro, Inc. (NASDAQ:GPRO) cutting 270 more jobs
- Author: Ronnie Bowen Mar 17, 2017,
Mar 17, 2017, 1:25
Morgan Stanley raised its price target to $7.50 from $7. It also tried to position itself as a media and entertainment company by leveraging the footage taken by its army of camera-toting thrill-seekers. Due to poor financials, GoPro has been forced to cut jobs on two other occasions since the beginning of 2016.
GoPro, Inc. (NASDAQ:GPRO) is now showing its ROA (Return on Assets) of -46.3%. Over the past five trading sessions it is -7%; -13.39% for the month; -17.72% for the last quarter; -41.09% for the past six-months; and -39.92% for the last 12 months. GoPro executives told investors that revenue for the soon-to-end quarter was tracking at the high end of the company's prior forecast. (NASDAQ:GPRO) reported its EPS in the last quarter as $0.29/Share beating the analyst estimate of $0.22/Share by the difference of $0.07. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. It has been assigned a low target price of $39 and a high target price of $63. Over the last ninety days, insiders sold 84,668 shares of company stock valued at $738,432. The stock stands almost $8.02 off versus the 52-week high of $58.86 and $11.71 above the 52-week low of $39.13. Following the transaction, the director now directly owns 208,617 shares in the company, valued at approximately $1,708,573.23. The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 1.80 on scale of 1-5. Also, the Hold rating count is 8 as of 03/13/17.
GoPro Inc had its "sell" rating reiterated by analysts at Dougherty & Co.
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On the heels of a company restructuring earlier this year and in November 2016 that cut 300 jobs, GoPro announced Wednesday that it will stay on track with its 2017 non-GAAP profitability plan by cutting operating expenses and once again reducing 270 staff positions (both current headcount and existing open jobs).
The company has had its share of setbacks, including product recalls and missed projections since going public back in 2014. Looking at a shorter time period, shares have been seen -25.23% away from the 50 day high and 16.17% off the 50 day low price. The stock now shows its YTD (Year to Date) performance of -13.09 percent while its Weekly performance value is -7%.