GPRO - GoPro Stock Is at an All-Time Low. Is It a Buy?
2024-04-16 10:19:00 ET
GoPro (NASDAQ: GPRO) stock is trading at an all-time low and is down 60% in the past year. It's been a challenging period for the action-camera maker as it attempts to reach profitable growth.
Results for 2023 disappointed investors. Revenue of $1 billion was down 8% year over year. Management said intense competition forced the company to lower pricing. This directly impacted margins and led to a $32 million adjusted net loss last year.
The GoPro subscription business, which bundles services like cloud storage and video editing software, has been a silver lining, posting a 12% jump in subscriber count. However, this marked a sharp slowdown from the 43% increase in 2022.
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GoPro Stock Is at an All-Time Low. Is It a Buy?