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

November 9, 2016 8:03 AM EST
Get Alerts GPRO Hot Sheet
Price: $9.75 +0.93%

Rating Summary:
    5 Buy, 13 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 28
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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.

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