Bargain hunters have added 2.49% to shares of GoPro in early trading today with the stock trading at $33.10 at midday. This after a report by Baron’s yesterday thats stated the U.S. video camera maker GoPro Inc shares could plunge to $25 from a recent $35 as its latest product launch underwhelms consumers. remember the stock traded as high as $98 in October.
GoPro, Inc. (GPRO) has traded in a range from $30.55 to $33.25 today. The stock has a 52-week range of $30.55 to $98.47. With a market cap of $4.4 billion GoPro, Inc. (GPRO) trades to a PE of 29. Try as you may, there’s not a lot of positives to find here other than a low price on a stock that may indeed go lower.
The article went on to state that GoPro may not have the ability to stave off competition if and when a major competitor entered the video camera space, for example Apple.
Some speculate that GoPro may be a candidate for Apple to acquire, but most analysts agree the likelihood of that happening are minimal. Drawing comparisons to a Blackberry are not going to help GoPro’s cause.
GoPro’s Hero action cameras are a “one-product wonder” much like BlackBerry‘s (NASDAQ:BBRY) once-popular smartphones, Barron’s Alexander Eule said.
GoPro, Inc. develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing, and enjoying engaging content. The company offers HERO line of capture devices, such as cameras; premium accessories, including battery BacPac, smart remote, and LCD touch BacPac accessories; and mounts comprising equipment-based mounts consisting of helmet, handlebar, roll bar, and grip and tripod mounts that enable consumers to capture content while engaged in a range of activities, as well as mounts that enable customers to wear the mount on their bodies, such as wrist housings, chest harnesses, and head straps. It also provides other accessories that include spare batteries, charging accessories, cables to connect its GoPro cameras to televisions and monitors, video transmitters, external microphones, flotation devices, dive filters, and anti-fogging solutions, as well as accessories for the smart remotes.