$GPRO on BUY point?!The share price of $GPRO dropped by around 20% on Feb 5 due to the its earnings came out below estimates.
Technical analysis:
As it is seen that we do have strong SUPPORT @$8.0 per share, when the price dropped it couldn't break it down.
Fundamental Analysis:
Gopro Inc Cl A (GPRO) reported 4th Quarter December 2020 earnings of $0.39 per share on revenue of $357.8 million. The consensus earnings estimate was $0.38 per share on revenue of $375.5 million.
The company said in its earnings presentation it expects first quarter non-GAAP results to range from a loss of $0.03 per share to earnings of $0.03 per share on revenue of $175.0 million to $190.0 million. The current consensus estimate is a loss of $0.10 per share on revenue of $167.3 million for the quarter ending March 31, 2021. The company also said it expects 2021 revenue of $1.07 billion to $1.11 billion. The current consensus estimate is revenue of $1.08 billion for the year ending December 31, 2021.
Overall analysis:
Wedbush raised the company's share price to $12 from $8. So we do have positive news. If $8 acts as Support we can BUY $GPRO with confidence.
Company profile:
GoPro Inc develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing and enjoying engaging content. It produces mountable and wearable cameras and accessories.
