Latest News in the Business and Financial World

Friday, April 23, 2021
Log in
  • Home
  • Company News & Financials
  • OTC Markets
  • Tech & Science
  • Health & LifeStyle
  • About WS OTC
    • Analysts & Contributors
    • Contact Us
    • Advertising
    • Feedback
    • Privacy Policy GDPR
  • Mobile
  • Latest News
    • New Theories Explain the Disappearance of the Mayan Civilization
    • What Happens If Coral Reefs Die?
    • Monsanto Loses Lawsuit for its Herbicide Products
    • Mankind (MNKD) shares Plunge after FDA Approves Afrezza, inhaled Insulin for Diabetes patients
    • Psychologists Confirm that Violent Video Games Boost Aggressiveness
    • World of Warcraft: Warlords of Draenor Release Date on Nov 13
    • iPass Global Hotspot Map Unveils Worldwide Wi-fi Coverage

Pages

  • About Wall Street OTC
  • Advertising
  • Analysts & Contributors
  • Contact
  • Feedback
  • Mobile
  • Privacy Policy GDPR
  • Terms of Service

Recent Posts

  • SF Hospital Slaps New Parents with $19K Bill for Baby Treatment
  • Furious Trump Blasts Harley-Davidson for Moving Production Overseas
  • Warning! MRI Machines Could Poison You
  • Flight Attendants More Likely to Get Certain Cancers
  • More Red Meat Allergy Cases Related to Lone Star Tick Bites

Goldman Sachs Devalued GoPro’s Share Price

Mar 8, 2017 By Sean Kavanaugh Leave a Comment

Email, RSS Follow
gopro drone

Despite the efforts of the company to revigorate its sales for 2017, Goldman Sachs lowered its share price as a sign that GoPro will face a difficult 2017 as well.

GoPro branded itself as the main supply of digital goodies for adrenaline lovers. The market was craving for a long time a special camera that was capable enough of becoming the best friend of a daredevil. Thus, GoPro filled this void with their own products that can withstand major shocks, wet environment, and many others corrosive factors. On February 7, 2014, the company filed the initial public offering for which investors honored the share price at $24. Despite all these achievements, Goldman Sachs lowered the shares of the company to an all-time low.

On Monday, Simona Jankowski, an analyst at Goldman Sachs, decreased her rating for GoPro and set the price target to a record low. While the company was struggling with a share price of $9.50, the organization has now to deal with $6 per share. As a consequence, investors couldn’t disregard these results and sent shares of $7.95 during the trading session on Monday. The day ended with a loss of 8%, as the transactions improved a little bit to $8.14 throughout the day.

Jankowski didn’t expect a revived sales evolution for the company even in the future. The main agent that brought such a low devaluation for GoPro was precisely last holiday season. Instead of having impressive revenue numbers, the company remained with plenty products in its inventory after the end of winter.

Jankowski noticed that the attempts to resuscitate sales by focusing on operating expenses were never a good strategy for GoPro. For instance, in 2016 the revenue was of $1.19 billion which fell by 27% from the previous year. On the other hand, the same year the operating expenses were twice higher than 2014, from $709 million to $369 million.

The company announced a restructuring plan for this year. By the end of 2017, GoPro projects to spend only up to $600 million. Moreover, it will close its entertainment business and eliminate 15% of job positions. However, Jankowski didn’t agree with these changes. By focusing its success rate on one branch only, the company has higher chances of failure if this market isn’t compliant anymore.

As for the product diversification, the tech company wasn’t successful. As it tried to leave cameras behind, GoPro embraced the innovative idea of drones through its new product, Karma. Beside several failures such as delays and a major recall, Karma is too weak to make it in the market. Its rival DJI encompasses the GoPro drone with its Mavic in all domains like speed, price, weights, size, and distance.

Image source: 1

Email, RSS Follow
The following two tabs change content below.
  • Bio
  • Latest Posts
skavanaugh@todaysgrowth.com'

Sean Kavanaugh

skavanaugh@todaysgrowth.com'

Latest posts by Sean Kavanaugh (see all)

  • Hypotheses of Periodic Asteroid Strikes on Earth - Jun 28, 2017
  • Scientists Helped Mice Get Pregnant Thanks To 3D Printing - May 19, 2017
  • San Francisco Bay Reports High Number Of Dead Leopard Sharks - May 7, 2017

Filed Under: Business

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 72 other subscribers

Mom holding newborn's hands

SF Hospital Slaps New Parents with $19K Bill for Baby Treatment

Jun 29, 2018 By Anne-Marie Jackson Leave a Comment

Harley-Davidson biker

Furious Trump Blasts Harley-Davidson for Moving Production Overseas

Jun 28, 2018 By Anne-Marie Jackson Leave a Comment

MRI machine

Warning! MRI Machines Could Poison You

Jun 27, 2018 By Anne-Marie Jackson Leave a Comment

Flight Attendants More Likely to Get Certain Cancers

Jun 27, 2018 By Anne-Marie Jackson Leave a Comment

Lone star tick sitting on a succulent leaf

More Red Meat Allergy Cases Related to Lone Star Tick Bites

Jun 26, 2018 By Anne-Marie Jackson Leave a Comment

Time magazine cover

Time Admits Sobbing Cover Girl Was Not Separated from Parents

Jun 26, 2018 By Anne-Marie Jackson Leave a Comment

Sunshine and green leaves

Vitamin D Deficiency Could Boost Risk of Lung Disease

Jun 25, 2018 By Anne-Marie Jackson Leave a Comment

Green-light laser pointer

Greek Boy’s Retina Severely Damaged by Laser Pointer

Jun 22, 2018 By Anne-Marie Jackson Leave a Comment

Red Tesla car

Tesla Suing ‘Whistleblower’ over Data Theft

Jun 21, 2018 By Anne-Marie Jackson Leave a Comment

Boiled eggs and mayonnaise

Eating too Clean Can Lead to Orthorexia

Jun 20, 2018 By Anne-Marie Jackson Leave a Comment

NYC mayor Bill de Blasio

NYC Will Allow People to Smoke Pot in Public

Jun 20, 2018 By Anne-Marie Jackson Leave a Comment

A kitten and a puppy sleeping in a bed while hugging each other

Who Is Smarter Between Cats and Dogs? Researchers Have an Answer (Study)

Jun 19, 2018 By Anne-Marie Jackson Leave a Comment

Orthodox church in Greece

Being Religious Is Tied to Longer Lifespan, Study

Jun 19, 2018 By Anne-Marie Jackson Leave a Comment

Bacon and eggs for breakfast

How Does the Keto Diet Work?

Jun 18, 2018 By Anne-Marie Jackson Leave a Comment

Related Articles

  • President Donald Trump and VP Mike Pence

    America Could Be Hit By a 2008-Like Recession in 2020

    Jun 6, 2018
  • Incoming robocall

    Florida Man Behind 96M illegal Robocalls Appears Before Congress

    Apr 19, 2018
  • Overworked government workers in Japan

    Government Computers in Seoul to Shut Down to Prevent Overtime

    Mar 26, 2018
  • Angry McDonald's customer yelling at employee

    Video of MacDonald’s Customer Having Meltdown over Ice Cream Goes Viral

    Mar 19, 2018
  • Daimler luxury Mercedes model

    Daimler Accused of Using illegal Software to Cheat on U.S. Emissions Tests

    Feb 19, 2018
  • Bride and groom

    Here’s Why Being Single Is Hurting Your Wallet

    Feb 14, 2018
  • Bitcoin and Namecoin street ads

    Top Financial Regulator Pushing for Cryptocurrency Regulation

    Feb 9, 2018
  • Bitcoin button on a white keyboard

    China Bans Online Bitcoin Ads, Citing ‘Financial Risks’

    Feb 5, 2018
  • Uber self-driving car

    Uber, Lyft Seeking Monopoly on Driverless Cars in Big Cities

    Feb 4, 2018
  • Model presenting LG washing machine

    LG Washing Machines Will Cost More in the U.S.

    Jan 25, 2018

Categories

  • Business
  • Company News & Financials
  • Diversified Financial
  • Entertainment
  • Featured
  • Health & LifeStyle
  • Micro Cap
  • Mid Cap
  • National News
  • Nature
  • OTC Exchange
  • OTC Markets
  • OTC Research
  • Science
  • Small Cap
  • Sports
  • Tech & Science
  • U.S.
  • Uncategorized
  • Wall Street
  • World
  • World Indexes

Copyright © 2021 wallstreetotc.com

About · Privacy Policy · Sitemap · Terms of Service · Contact