GoPro Is Expected To Announce Great 2nd Quarter Results
The action camera makers are expected to reach new levels of success in the upcoming quarter results.
GoPro has been under the scrutiny of the financial analysts after the company started to lose its sales following the massive revenue generation that was carried out by the company in the last quarter of 2014. However, the Hero 4 camera makers are again on the top of their game as analysts are again expecting the company to produce even better sales than before in the upcoming 2Q results that the company will announce in the coming weeks. Analysts not only have high expectations from the 2nd quarter of 2015, but they have also declared that the camera makers will announce great sales for the 3rd quarter of the current fiscal year.
As for the recent GoPro news, the company has lately been doing better on the stock index than before which is why the expectations of the analyst have been raised. The selling price on an average has also seen a rise for the quarter of March due to which there is a feeling of positivity among the analysts regarding the company’s sales report. According to analysts at Pacific Crest Securities, the price target and rankings on the company have completely been reversed as compared to the previous rankings it was seen receiving.
The analysts of the firm have also declared higher price target and even higher earnings for the current financial year as well as the next year of 2016. Pacific Crest analysts increased their ratings on the shares of the camera making company and gave a rating of ‘sectors perform’ to the stock. After this analysis of the equity firm, the share price of the company shot right up on the stock market and reached a share price of $42.35 as recorded on the latest trading session that the firm went through.
Analysts of the firm were further observed to suggest that the reason they have increased their price target on the company is because the GoPro stock was showing many positive signs which persuaded them to change their minds. Also, the analysts made a suggestion to the company by saying that once the Hero camera makers come up with software for the creating of videos, their stock value will reach higher levels on the stock index. As for a senior analyst at PC, Brad Erikson explained how software updates by the action camera makers will take the company to new heights of success.
On the other hand, Erikson also discussed how this change in the stock of GoPro has suddenly turned away all the bears who had taken control of the stock before.
