Karma again? GoPro's drone back on sale (with a new battery latch)
Feb 04 2017 by Cristina Jennings
GoPro Inc stock is down around 12% in the pre-market trade.
12/27/2016 - GoPro Inc had its "underweight" rating reiterated by analysts at Piper Jaffray. Overall revenue for the year fell short of GoPro's own grim projections, and despite a good fourth quarter thanks to sales of Hero 5 and Hero 5 Session cameras, even Q4 projections were off by about $30 million. Under generally accepted accounting principles, GoPro lost $116 million, or 82 cents a share, in the December quarter.
Regardless, Woodman characterized 2016 as a successful year for GoPro, rolling out the Hero5 line, the Karma Grip hand-held and wearable stabilizer, the Quik mobile and desktop applications and the GoPro Plus cloud service.
The 52 week high of GoPro Inc's shares is 17.68 whilst the 52 week low for the company's shares is 8.54. The Company's year to date (YTD) performance is now positive at 25.95%.
The company made a note to specify that the $0.82 per share loss includes the charges of $102.0 million for full valuation allowance on USA deferred tax assets and almost $37.0 million for restructuring costs. The company's P/E is 0 and Forward P/E ratio is 0. GoPro also took $37 million restructuring charges, mostly related to closing down of its media business and laying off 1/3rd of its workforce.
GoPro's net loss widened to $115.7 million in the fourth quarter from $34.5 million a year earlier.
Important factors to focus when evaluating a stock's present and future value are the 52 week price high and low levels. The company reported its last quarter on Sep 16.
A statement from GoPro said initial shipments would be limited, but production was expected to ramp up quickly.
GoPro's Karma drone is the camera maker's first. Also, the competition in this segment is intensifying.
Based on several research reports, GoPro Inc was Downgraded by Raymond James to " Underperform" on Feb 3, 2017.
Revenues during the holiday quarter grew 23.8 percent to $540.6 million but were shy of the $574.5 million that analysts were expecting. The guidance on the margins front was also disappointing. GoPro's revenue for the quarter was down 39.9% compared to the same quarter previous year.
After four back-to-back quarters of posting quarterly losses, GoPro, Inc. However, the success of these drones is far from given. But the actioncam company has moved swiftly to patch up its debut aircraft, with the Karma drone now available again for purchase again through the GoPro site. A standalone unit still costs $799.99, while a Karma bundled with the GoPro HERO5 Black still carries the $1,099.99 price tag. All in all, investors must avoid GoPro stock for now.