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Retail checks indicate that action-camera maker GoPro (GPRO) saw strong demand for its products, especially higher-end models, over the holiday season. “Our checks in big-box channels indicate GoPro demand has been very strong this holiday,” Pacific Crest Securities analyst Brad Erickson said in a research note late Monday. “High-end sell-through accelerated meaningfully leading up to Christmas relative to levels we detected just a month ago.” Pacific Crest saw meaningfully lower inventory levels for Hero 4 cameras, which list for $399 to $499. Also, Best Buy (BBY) has not had consistent stock of Hero 3 White and Hero 3+ Silver cameras since the beginning of December, which is likely because of better-than-expected holiday demand rather than any sort of production misstep, Erickson said. Erickson says that Wall Street is underestimating GoPro’s channel replenishment and its accelerating mount-and-accessory sales in the March quarter. However, he rates GoPro stock as… Scalper1 News
Scalper1 News