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GoPro Holiday Sales; Hero Line of Cameras a Boon for Earnings?

July 31, 2023
in Trade Tube
Reading Time: 1 min read
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Action camera specialist Go Pro turns in its earnings report card today, but its not expected to be the blowout that the third quarter was and that makes it our chart of the day. Last quarter, it issued strong guidance for fourth quarter sales and earnings in the range of $0.65 to $0.69. Analysts are even more optimistic expecting $0.70 a share. However, Go Pro shares are down in the last month on news that Apple is developing its own sports camera apparatus. The company just went public last year, and we are waiting to see what the impact was of the newly introduced HERO4 line of cameras on its bottom line. We also want to hear about upcoming partnerships to create dedicated channels on certain televisions and position itself as a media company, instead of just hardware. Looking forward, GoPro is developing a line of consumer drones. The stock took a hit yesterday after analysts at Citigroup lowered their price target on shares of the wearable camera maker to $59 from $94.

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