Bidness ETC - GoPro Products Doing Well On Amazon

GoPro five cameras are a part of the 100 top selling electronics on Amazon since October.

GoPro Inc. the action camera maker is enjoying its strong position in the market. The company is not only coming up with innovative products that are attracting buyers, but their stocks are also doing relatively making them a worthy catch for investors.

According to GoPro stock news, the company’s stocks surged by 6.5 percent in the market. Piper Jaffray, the popular analytics firm recently came up with their proprietary index through which they can keep track of the strength of GoPro’s retail market. According to the consensus made by them, it was deduced that among the 100 item in electronics on Amazon E-commerce store, five of the products are GoPro cameras since October FY14

Erinn Murphy an analyst at Piper Jaffray who is keeping a close watch on the company believes that GoPro has succeeded in maintaining a strong sales trajectory from the time it has launched its Hero range back then in the first half of 2014. According to Mx. Murphy, the company has played an integral role in expanding the market for action camera. This can be observed through their financial results that depict a strong hold on the mark.

Ms. Murphy has calculated that the company’s current offering compounds to a 6.1 percent share in the top 100 electronics at Amazon when comparing this to their historic average of 4.6 percent, GPRO has certainly come a long way.

Considering this progress by the company, Piper Jaffray has deemed an earnings estimate for the current quarter as well as the complete fiscal year of 2015 of the firm to be conservative. Also, they have given the company an “Overweight” rating on their stocks. The company is likely to enter the consumer drone industry therefore considering this analyst at Piper Jaffray is weighing the stocks as bullish.

According to the firm, GoPro recently expressed its plans to come up with a quad copter pawns the notion that there is a relatively small market for them in the TAM markets. According to the company, almost the entire TAM Market sales are within the 80-90 million.

Almost all the analytics firms that keep a track of GoPro stocks consider it to be on the Bullish side. According to a recent poll conducted by an analyst on Bloomberg, around 10 of 17 analysts gave the stocks a “Buy” rating whereas six have given these stocks a “Hold” rating. Thus, only one analyst considers that GoPro stocks should be sold. Moreover, the 12-month price target on an average for the shares of GoPro is $68.27.