In a program on CNBC, Alex Guana, JMP Securities analyst praised GoPro Inc (NASDAQ:GPRO) stock and said that the estimates about GoPro Inc (NASDAQ:GPRO) were already strong but the company managed to even beat the elevated expectations. GoPro Inc (NASDAQ:GPRO) has clear articulation of future goals, great gross margins and profits according to Guana. The stock will keep doing well in the future as well because of the immense push it has acquired.
Guana said that GoPro Inc (NASDAQ:GPRO) is not relying on uncertainties. There is no doubt about the fact that GoPro Inc (NASDAQ:GPRO) is the leading entity in the action camera domain up till now. He thinks that Chinese New Year coming in February will give another boost for GoPro Inc (NASDAQ:GPRO) because the last quarter went low amid the regulatory issues in the emerging markets. He said that Christmas sales are yet another upcoming attraction for the company. Guana thinks that GoPro is not even near to achieving its full potential and the camera maker has still a long way to go. The company is coming up with the most innovative devices the action camera market has ever experienced. Guana raised his stock target for GoPro Inc (NASDAQ:GPRO) from $65 to $105 a few days before the Gopro’s earnings report. Answering a question about his latest stock price target, Guana said that he is maintaining the price target of $105 for GoPro Inc (NASDAQ:GPRO).
According to Guana, the enjoyment, apps and software GoPro Inc (NASDAQ:GPRO) provides for its customers is the real reason behind its strong quarters. He referred to GoPro Inc (NASDAQ:GPRO) Hero 4K video which has broken the viewership records. He said that the company is making a successful plunge in the software and apps business.