GoPro Inc

GoPro may soon be profitable as it learns from its mistakes and zooms in on a target audience

Oppenheimer analysts applaud the company for focusing in on customers using the cameras for documenting their travels and story-telling

GoPro camera
The camera company reported a smaller-than-expected loss in its second-quarter results

GoPro Inc (NASDAQ:GPRO) beat Wall Street estimates in its second-quarter results, seeing a smaller-than-expected loss as demand rose for its action-ready cameras.

The wearables company reported a net loss of US$0.15 per share on revenue of US$282.7mln, performing better than Wall Street estimates of a net loss of US$0.22 EPS on revenue of US$270.23mln.

READ: GoPro shoots past analyst estimates in its second quarter, sees profit by second half of the year

Oppenheimer analysts foresee GoPro developing into a profitable company in the near future as management learns from its mistakes and takes a new perspective on the market.

“Management—with three new products in tow—is close to achieving what it set out to do: a good, better, best product launch strategy + clean channel in a robust demand environment. If successful, profitability and sustained growth should follow,” wrote analyst Andrew Uerkwitz.

GoPro plans to offer new models across all product tiers for the upcoming holiday season, which the analyst implied it had not done in the past, and may reach more customers and see long-term cost reduction benefits as a result.

Uerkwitz also highlighted the company’s changing view of its market. Instead of trying to sell everyday use cameras, its zoning in on the customers that would use its cameras to document travels or for story-telling purposes.

The analyst gave GoPro shares a Perform rating.

Shares of the camera company were up more than 20% to US$7.22 in Friday afternoon trading.

Quick facts: GoPro Inc

Price: $4.64

Market: NASDAQ
Market Cap: $715.12 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Gatling Exploration is well funded and increasing their...

Gatling Exploration (CVE: GTR) President and CEO Nav Dhaliwal sat down with Steve Darling from Proactive Vancouver with news Gatling has increased their drill program to 35,000 metres. Dhaliwal talked about where they are targeting with this new beefed-up program.  Dhaliwal also told...

13 hours, 26 minutes ago

2 min read