GoPro (GPRO) Surging Inventory is 'Concerning' - Piper Jaffray
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.