GoPro (NASDAQ:GPRO) Stock Making Headlines

On the last trading day, July 21, 2014, stocks of GoPro (NASDAQ:GPRO) were on a rise when the market analysts supported GoPro (NASDAQ:GPRO) and predicted a further rise in the near future. The company is on a move since the time it offered shares to the public on June 27. Stocks of this California based company jumped up by 2.6 percent and reached the figures of $42.61, thus increasing the stock’s advance by 36 percent.

According to Joseph Wolf, an analyst at Barclays, GoPro (NASDAQ:GPRO) is the new Apple in a way that its content creation by POV video will be like the music consumption by iTunes and iPod. Although the analogy does not fit 100 percent but it will not be wrong to say that GoPro needs to go a long way and overcome all the hurdles if it wants to become a global brand.

Paul Coster, an analyst at JPMorgan, gave the stocks a price target of $51 on the basis that GoPro (NASDAQ:GPRO) has only made 8.5 million deliveries up till now in a market where sales volume reaches hundreds of millions daily. JP Morgan justifies the volatility of the stock on the basis that GoPro (NASDAQ:GPRO) is clinging itself to a market that has not even developed fully yet.

Piper Jaffray also covered the company’s stocks. According to Sean Naughton’s research report, the company needs to extend its market size and target audience. It cannot expect to grow if it caters to the sports community only. Sean Naughton gave the company a one year target price of $48.

The company needs to come up with innovative ideas if it wants to expand its operations and market size. The camera maker can integrate a social media site with the content capturing device. It can allow the users to share the content that they have captured on their devices on the social media website.
Market analysts are not very sure right now as to whether GoPro will remain in the gadget industry or it will expand into a social media company as well. The unstable growth rate in the market and uncertain valuation metric’s application has also made the analysts doubtful. The company, however, is still profitable with its brisk sales.

GoPro (NASDAQ:GPRO) is an American company that specializes in the video capture devices. The company was formed in 2002 with the aim of providing high quality video capturing devices that can be mounted on vehicles, boats and helicopter etc.

On the last trading day, July 21, 2014, the company opened its stocks at a price of $43.25 and closed at a price of $41.66. As far as the 52 week high and 52 week low of the company’s stocks is concerned, the figures are reported to be around $49.90 and $28.65 respectively. The company’s one year price target is $44 whereas its beta is recorded to be around 2.66. Many market research firms have covered GoPro’s (NASDAQ:GPRO) stocks and the consensus rating on the stock is ‘buy’.