Bidness Tech - GoPro Stocks Do Well After An Increase In IPO

GoPro stock has risen more than 9.42 percent over the few days after its initial public offering (IPO).

GoPro Inc.’s stocks have experienced a tremendous surge where its stock has risen more than 9.42 percent over the few days. Since the time, the action camera giant has announced its plans to manufacture drones as well as make its debut in the world of virtual reality; GoPro has embraced a massive surge. Moreover, the company is not stopping its growth trajectory and has vowed to come up with HERO+ LCD, the second camera from the HERO series with a touch screen.

Oppenheimer analysts are keeping a close watch on the company stocks since they have announced to launch new products and have also given a “Market Perform” rating to GPRO. According to Mr. Andrew Uerkwitz, an analyst at Oppenheimer believes that the company has experienced a great tenure since the past couple of days after it unveiled its IPO- initial public offering. According to Oppenheimer analysts, the stocks of GoPro are a good bargain and pose no vulnerability in the times to come.

With the launch of HERO+ LCD is likely to cater to the persisting price gaps in its product range. So now the company is actually coming up with a mid-ranged action camera priced at $300. Previously, the HERO Silver was being retailed for $400 and HERO HD retailed for $130. Thus, there was not a mid-ranged product that was high quality and relatively cheaper. Analysts at Stifel believe that with the launch of HERO+ LCD a mid-ranged touchscreen camera, the company has provided a cheaper alternate to GoPro HERO 4.

The chief executive officer of GoPro, Mr. Nick Woodman mentioned during the Re/Code Conference that the company also wishes to launch a quadcopter by the end of last year. This created further disruption in the market since now they now only wish to launch drones, enter virtual reality but also come up with their own quadcopters.

Analysts at Doughtery & Co. have reiterated a “BUY” rating on GPRO stocks where they have estimated a price target of $65. The analysts further claim that the company’s brand equity will play a major role and will also act as a multiplier in the drone fraternity.

GoPro is thus on the right track where its growth has been exemplary in a relatively short span of time. The company’s IPO turned out to be a game changer for the company adding positively to their growth. If the company continues to grow on the same pace then there future will be extremely secure.