Scalper1 News
Highflying stock GoPro (GPRO) was buffeted Wednesday by an analyst downgrade, despite a survey showing the company’s action cameras are a hit with U.S. teenagers. GoPro stock fell 4% to 89.93 on the stock market today. On Tuesday, GoPro hit an all-time high of 98.47. The San Mateo, Calif., consumer electronics company went public at 24 on June 26. Piper Jaffray analyst Sean Naughton late Tuesday cut his rating on GoPro to neutral from overweight, with a price target of 90. “The current valuation leaves little room for additional upside,” Naughton wrote. “We remain bullish on GoPro’s growth opportunity, both in the near term and longer term, but would wait for a more attractive entry point.” Meanwhile, Piper Jaffray’s 28th semi-annual “Taking Stock With Teens” survey showed the increasing popularity of GoPro cameras. In a fall survey of 7,200 U.S. high school students, 17.2% indicated that their family owned a… Scalper1 News
Scalper1 News