GPRO - GoPro 'impressive' moves gets new high marks from Jefferies
Citing what she called "an impressive strategic alignment" over the last one-and-half years, Jefferies analyst Anna Glaessgen initiated her coverage on GoPro (NASDAQ:GPRO) on Monday with a buy rating and $12-a-share price target. Glaessgen GoPro's (GPRO) shifting toward products with higher average selling prices, improving its subscriber model and putting more priority on its GoPro.com retail site, "has borne fruit in a much healthier businesses. Glaessgen said such moves should help GoPro (GPRO) exceed consensus estimates for its 2022 fiscal year. "The rise of GoPro.com is a game changer," Glaessgen said. "It boasts much higher margins than retail channels," and also gives the company "greater control of its distribution". Glaessgen also said that GoPro's (GPRO) subscription, at $49.99 a year "provides a series of member benefits" such as even bigger discounts on cameras, and access to cloud-based backups via its Quik app. Earlier this month, GoPro (GPRO) reported fourth-quarter earnings
For further details see:
GoPro 'impressive' moves gets new high marks from Jefferies