GoPro (GPRO): November Data Confirms Sell - Dougherty

Dougherty & Co analyst, Charles Anderson, reiterated his Sell rating on shares of GoPro (NASDAQ: GPRO) noting that in November, sell-through indicators continued to show weakness compared with the last large product launch in 2014. Relative to November 2014, Google searches for the GoPro brand were down 18% globally, down 19% in the U.S. and down 51% on YouTube.

On iPhones in the U.S., GoPro's app moved down the charts 22% in November vs. November 2015 while the app moved down the charts 37% on Android devices over the same period. In all the geographies we track, the GoPro app (renamed "Capture") moved down the most downloaded charts on iPhone relative to November 2014 with the exception of Japan and South Korea. The app did move up the charts over 100% in Japan.

No change to the price target of $6 which represents 38% downside from Friday's closing price.

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 $9.70 yesterday.

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