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I f GoPro (GPRO) is going to fend off competition in the action camera market, it will need to buck up its video editing software, Pacific Crest Securities analyst Brad Erickson said in a report Sunday. GoPro’s hardware offerings look good, but software is a key longer-term question for the company, Erickson said. A “video-editing software breakthrough” could be needed to see an expansion in its earnings multiple, he said. “We believe video-editing software development is the key to unlocking an accelerating (total addressable market) expansion thesis for the longer term as the action camera space will likely become more competitive over time,” he said. End-of-quarter retail channel checks were positive for GoPro, Erickson said. Days of inventory remained at two weeks and fell a day in March vs. February, he said. “Secondarily, we found fewer mid-tier and low-end GoPro models in the channel vs. last month,… Scalper1 News
Scalper1 News