GoPro (GPRO) Surging Inventory is 'Concerning' - Piper Jaffray
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Price: $0.74 -6.33%
Rating Summary:
4 Buy, 11 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
Rating Summary:
4 Buy, 11 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
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Piper Jaffray analyst Erinn Murphy offered some initial thoughts on GoPro (NASDAQ: GPRO) following the company's miss on the top and bottom line. The analyst highlighted surging inventory, which she said is concerning.
"Overall inventory was concerning up 147% Y/Y vs. the 42% Y/Y growth in sales," Murphy said.
They expect management to issue Q4 guidance on the call and are expecting sales of $583M vs. the Street of $688M.
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