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GoPro Shares On The Move Following Piper Jaffray Upgrade

Courtesy of Benzinga.

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Shares of GoPro Inc (NASDAQ: GPRO) are trading up nearly 2 percent in Tuesday's post-market session following an after-hours upgrade from Piper Jaffray's Erinn Murphy. The analyst now rates GoPro shares as an Overweight, up from Neutral previously. Murphy set a $55 price target on the stock.

Murphy cited a recent Piper Jaffray survey which suggested increasing uptake of the company's devices. The firm's survey showed family ownership approaching 18 percent, up from under 13 percent in 2014.

The Piper Jaffray analyst's call comes exactly two weeks ahead of the company's first-quarter results. Late last week, on Thursday, GoPro published a press release confirming earnings will be issued after the market close on April 28. The current analyst consensus estimate for earnings sits at around $0.18 per share, while sales are expected around $340 million.

With GoPro shares last trading at $45.25 in after-hours trade, Murphy's price target implies potential upside of about 22 percent.

Latest Ratings for GPRO

Date Firm Action From To
Apr 2015 Piper Jaffray Upgrades Neutral Overweight
Mar 2015 Dougherty & Company Upgrades Neutral Buy
Mar 2015 Baird Upgrades Neutral Outperform

View More Analyst Ratings for GPRO
View the Latest Analyst Ratings

Posted-In: Erinn Murphy Piper JaffrayAnalyst Color Upgrades Price Target Analyst Ratings Movers

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