GoPro (GPRO) closed the most recent trading day at $8.58, moving -1.49% from the previous trading session. This move lagged the S&P 500’s daily loss of 1.22%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.53%.
Coming into today, shares of the action video camera maker had lost 18.45% in the past month. In that same time, the Consumer Discretionary sector lost 10.68%, while the S&P 500 lost 6.58%.
Investors will be hoping for strength from GoPro as it approaches its next earnings release, which is expected to be February 3, 2022. In that report, analysts expect GoPro to post earnings of $0.35 per share. This would mark a year-over-year decline of 10.26%. Our most recent consensus estimate is calling for quarterly revenue of $383.15 million, up 7.09% from the year-ago period.
Any recent changes to analyst estimates for GoPro should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GoPro currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note GoPro’s current valuation metrics, including its Forward P/E ratio of 9.03. This represents a discount compared to its industry’s average Forward P/E of 13.21.
The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 79, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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