Last Few Days for GoPro (GPRO) the Most Important Since IPO, Oppenheimer Says

Oppenheimer analyst Andrew Uerkwitz weighed in on GoPro (NASDAQ: GPRO) Tuesday, noting the last 5 days could have been the most important since the IPO.

Uerkwitz commented, "The last 5 days at GPRO have been hectic: CEO Nick Woodman announced GPRO would build a drone by 2016 and enter the Virtual Reality market with both a spherical array (6 cameras) and a cylinder array (16 cameras). On Monday, the company also announced an updated mid-level camera—the Hero+LCD (replaces the Hero 3 Silver). The reason for the importance—it looks to us that the company has made it clear: GoPro is a prosumer device company and has work left to do to capture the larger consumer market (the Hero+LCD could go a long way to do so). New verticals and renewed investor enthusiasm make our worries irrelevant in the near term."

Despite the comments, the firm maintained a Perform rating on GPRO.

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 $58.52 yesterday.

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