Bank of America Initiates Coverage on GoPro Inc to Buy

Bank of America Initiates Coverage on GoPro Inc(NASDAQ:GPRO). The shares have been rated Buy. The rating by Bank of America was issued on Sep 16, 2016.

GoPro Inc (GPRO) made into the market gainers list on Thursdays trading session with the shares advancing 7.21% or 1.08 points. Due to strong positive momentum, the stock ended at $16.05, which is also near the day’s high of $16.42. The stock began the session at $15.3 and the volume stood at 1,85,76,538 shares. The 52-week high of the shares is $35 and the 52 week low is $8.62. The company has a current market capitalization of $2,238 M and it has 13,94,40,180 shares in outstanding.

GoPro Inc(GPRO) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $220.75M. Analysts had an estimated revenue of $194.31M. Earnings per share were $-0.52. Analysts had estimated an EPS of $-0.58.

Several Insider Transactions has been reported to the SEC. On Sep 7, 2016, Anthony John Bates (President) sold 9,704 shares at $14.16 per share price.Also, On Sep 1, 2016, Michael E Marks (director) sold 264 shares at $14.94 per share price.On Aug 22, 2016, Sharon S Zezima (General Counsel, Secretary) sold 4 shares at $15.00 per share price, according to the Form-4 filing with the securities and exchange commission.

GoPro Inc. produces mountable and wearable cameras and accessories which the Company refers to as capture devices. Additionally the Company develops and provides desktop editing software and mobile applications for free to consumers. The Company offers HERO line of capture devices which include HERO2 HERO3 camera the HERO3+ camera and the HERO4 and HERO. The Company also provides a selection of mounts designed to enable consumers to capture content while engaged in a range of activities. This includes equipment-based mounts such as the helmet handlebar roll bar as well as grip and tripod mounts. The Company also offers two software applications: GoPro Studio and GoPro App. GoPro Studio is a video editing tool that allows users to create videos from their GoPro content. The GoPro App allows users to control their GoPro cameras remotely using a smartphone or tablet. Its capture devices are sold through retailers wholesale distributors and on the Company’s Website.

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