Dougherty & Co Downgrades GoPro (GPRO) to Sell Following Drone Recall

November 9, 2016 8:03 AM EST
Get Alerts GPRO Hot Sheet
Price: $9.17 -0.54%

Rating Summary:
    5 Buy, 12 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
Trade GPRO Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Dougherty & Co downgraded GoPro (NASDAQ: GPRO) from Neutral to Sell with a price target of $6.00.

Analyst Charles Anderson commented, "We are lowering our rating on GoPro from Neutral to Sell and establishing a $6PT. Our concerns are threefold: 1) the company has had multiple operational stumbles, the latest being the Karma drone recall 2) Hero 5 camera demand looks weak thus far in the metrics we track 3) valuation looks elevated considering shares have traded as low as 0.5 EV/S vs. the 0.9x it is currently trading vs. our FY17 revenue estimate of $1.3B. Our new $6PT is based on 0.5x EV/S our FY17 revenue estimate

For an analyst ratings summary and ratings history on GoPro click here. For more ratings news on GoPro click here.

Shares of GoPro closed at $10.86 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, Downgrades, Hot Downgrades

Add Your Comment