GoPro (GPRO): Management Is Positive But Regaining Profitability Is Key - Dougherty & Co
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Dougherty & Co analyst, Charles Anderson, reiterated his Neutral rating on shares of GoPro (NASDAQ: GPRO) after an upbeat non-deal roadshow in Denver.
Management was extremely confident about GoPro's new products (likely to be announced 9/19). On both the Hero5 camera and the Karma drone, management's message is that the products will be considerably easier to use than predecessor products from GoPro and competing products in their categories.
The key to the story is getting back to profitability and management is clear that FY16 is an investment year leading up to holiday product launches but they do not want this trend to continue into FY17. The idea is that with new products and more careful control around OpEx, getting back to more consistent profitability should be an attainable goal they can strive for next year.
Shares of GoPro closed at $14.57 yesterday.
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