Published: Fri, March 17, 2017
Money | By Oscar Reynolds

GoPro to lay off 270 workers in an effort to cut costs

GoPro to lay off 270 workers in an effort to cut costs

This rating was issued on 3/06/17. They now have a Dollars 9 price target on the stock. Ameriprise Financial Inc. now owns 831,346 shares of the company's stock valued at $13,867,000 after buying an additional 789,138 shares during the last quarter.

Target prices have a considerable bearing on the stock movement.

Just months after dropping a bombshell by cutting 15 percent of its workforce, GoPro is once again back to terminating more people from its manpower. Prospera Financial Services Inc bought a new stake in GoPro during the third quarter valued at $595,000.

Investors are rightly relieved that GoPro is taking an aggressive stance toward costs, as evidenced by the stock's gains on Thursday. The best target price is $12 though the lowest target is $5.

GoPro, Inc. (GoPro) produces cameras and mountable and wearable accessories. Yet they lowered their price target by a dollar to $9 on concerns regarding the effects that the restructuring and job cuts will have on end-user demand.

Sell-side analyst recommendations point to a short term price target of $8.11 on the shares of GoPro, Inc. A rating of 4 or 5 would indicate a Sell. Other firms include Citigroup giving Sell rating on 3-Mar-17. A point of strong sell is stated for the shares sporting "5" score and long position are in skyline for shares having "1" notch.

In the last Quarter, GoPro, Inc. (GPRO) managed to surpass quarterly earnings per share estimates in 6 of the trailing twelve fiscal quarters, and has a positive trend with an average surprise of 54%. The 1-year price target of the company is 8.57. The EPS consensus range is $-0.5-$-0.19 on revenue between $298.02M and $200M. Hence, the surprise factor was -71.4 percent. The stock's market capitalization is $1.04 billion.

The firm's 50 day moving average is $9.17 and its 200-day moving average is $11.24. With the last close down -34.63% from the two hundred day average, compared with the S&P 500 Index which has increased 0.04% over the same period. The Return on Assets stands at -46.3%, Return on Equity shows -75.1% and Return on Investment value is -93.3%. The stock now shows its YTD (Year to Date) performance of -13.09 percent while its Weekly performance value is -7%. Share performance for the month is now at -18.78%. (NASDAQ:GPRO) is 1.37. The Average Volume (3 months) is 3.92 Million.

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