Merrill Lynch Downgrades GoPro to Sell

By Ryan Adsit

In a report released today, Jason Mitchell from Merrill Lynch downgraded GoPro (NASDAQ: GPRO) to Sell. The company’s shares closed last Friday at $11.16, close to its 52-week low of $8.62.

According to TipRanks.com, Mitchell is ranked #3568 out of 4162 analysts.

Currently, the analyst consensus on GoPro is Hold and the average price target is $12.33, representing a 10.5% upside.

In a report issued on October 31, Piper Jaffray also reiterated a Sell rating on the stock with a $9 price target.

The company has a one year high of $26.12 and a one year low of $8.62. Currently, GoPro has an average volume of 8.36M.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, Michael E. Marks, a Director at GPRO sold 264 shares for a total of $3,944.

GoPro, Inc. engages in manufacturing and selling camera and camera accessories. It provides mountable and wearable cameras and accessories, which refers as capture devices. The company was founded by Nicholas Woodman in 2002 and is headquartered in San Mateo, CA.