Close

Piper Jaffray Sees Strong Holiday Sales for GoPro (GPRO) and Upside to Guidance

November 26, 2014 7:02 AM EST
Get Alerts GPRO Hot Sheet
Price: $2.17 --0%

Rating Summary:
    4 Buy, 11 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 36
Join SI Premium – FREE

Piper Jaffray analyst Sean Naughton commented on GoPro (NASDAQ: GPRO) saying Black Friday positioning and Amazon sell-through suggests GoPro will be a key holiday gift. While they see opportunity for shares to trade back toward their $90 price target they are maintaining a Neutral rating.

Naughton commented, "We believe GoPro is poised for a strong holiday season with upside to guidance. Our view is supported by representation on Amazon's best selling electronics list and a strong Black Friday presence. Since early October, each of the current lineup of five capture devices has ranked in the top 100 electronics best sellers on Amazon on a rolling 3-day basis. We expect GoPro capture devices to be important gifts for the holiday season as they are featured in Black Friday ads for Best Buy, Target, Walmart and Cabela's to name a few. The next catalyst for GPRO shares will likely be Ambarella's earnings release after the close on December 4th. We are maintaining our Neutral rating at this time as we believe heightened volatility in GPRO shares will continue, but do see an opportunity for shares to trade back towards our $90 price target."

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 $74.71 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Hot Comments

Related Entities

Piper Jaffray, Earnings