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GPRO

GoPro

$14.30

-0.72 (-4.79%)

, AMZN

Amazon.com

$834.09

3.09 (0.37%)

08:36
10/13/16
10/13
08:36
10/13/16
08:36

GoPro halt on Amazon seen leaving hard-to-fill 'hole' in sales

While noting that the situation is expected to be temporary, Piper Jaffray analyst Erinn Murphy said she has uncovered that GoPro (GPRO) is currently not selling via Amazon (AMZN) in the U.S. The analyst believes the disruption was not contemplated in guidance, which leaves her "incrementally concerned" on the company's ability to reach its second half of 2016 goals. GOPRO NOT SELLING TO AMAZON: Piper Jaffray's Murphy told investors that she is "incrementally concerned" on GoPro's ability to reach second half of the year guidance after uncovering that the company is currently not selling to Amazon, at least domestically, in a change that occurred over the last three months. Further, the analyst noted that while the company is already below 2016 guidance, not selling into Amazon directly as Holiday season approaches could be a $100M sales "hole" to fill. PAUSE TEMPORARY: In a follow-up research note after speaking to management, Murphy clarified that the pause in shipping to Amazon is planned to be temporary. GoPro plans to resume shipping to Amazon at the end of October, Murphy added. She also pointed out that the action camera maker has been shipping to Best Buy (BBY), other partners and its own GoPro.com channel in the meantime. Nonetheless, the analyst told investors that she believes the disruption at Amazon was not contemplated in guidance and said she will continue to monitor the progress of the company into the Holiday season. The analyst reiterated an Underweight rating and a $9 price target on GoPro's shares. PRICE ACTION: In pre-market trading, shares of GoPro dropped almost 4% to $13.75.

GPRO

GoPro

$14.30

-0.72 (-4.79%)

AMZN

Amazon.com

$834.09

3.09 (0.37%)

BBY

Best Buy

$39.77

1.44 (3.76%)

  • 23

    Oct

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    Nov

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    Dec

GPRO GoPro
$14.30

-0.72 (-4.79%)

10/13/16
PIPR
10/13/16
NO CHANGE
Target $9
PIPR
Underweight
GoPro currently not shipping to Amazon, says Piper Jaffray
Piper Jaffray analyst Erinn Murphy says she uncovered that GoPro (GPRO) is not currently selling to Amazon (AMZN), at least domestically, in a change that occurred over the last three weeks. In a follow-up research note after speaking to management, Murphy clarified that the pause in shipping to Amazon is planned to be temporary. GoPro plans to resume shipping to Amazon at the end of October, Murphy adds. The action camera maker has been shipping to Best Buy (BBY), other partners and its own GoPro.com channel in the meantime, she points out. Nonetheless, the analyst believes the disruption at Amazon was not contemplated in guidance. Murphy is "incrementally concerned" on GoPro's ability to reach its second half of 2016 guidance. The analyst reiterates an Underweight rating on the shares with a $9 price target. The stock closed yesterday down 72c to $14.30.
09/20/16
09/20/16
NO CHANGE

Stifel still skeptical on new GoPro product line
Stifel analyst Jim Duffy remains skeptical about the ability of GoPro's new Hero5 products to restore enthusiasm in the company's offerings. The analyst says that the company's failure to incorporate "follow me" mode into its new Karma drone and the drone's high price tag are negative. The analyst thinks that Street forecasts of 20% revenue compound annual growth from 2016-2018 "appear aggressive." He keeps a Hold rating on the shares.
09/28/16
OPCO
09/28/16
NO CHANGE
OPCO
DJI Mavic Pro not a response to GoPro Karma, says Oppenheimer
After drone market leader DJI unveiled its Mavic Pro, Oppenheimer analyst Andrew Uerkwitz notes that he does not see it as a response to GoPro's Karma, arguing that they have two very different value propositions. Mavic is a high-performance, versatile consumer drone that pushes boundaries of the category to new heights, while Karma is a well-rounded and versatile flying camera system, he contended. Nonetheless, Uerkwitz believes GoPro's brand and customer loyalty will be tested given an acceleration in innovation and several compelling drones introduced this year across the market.
09/28/16
BOFA
09/28/16
NO CHANGE
BOFA
New drone competitor won't knock down GoPro Karma, says BofA/Merrill
After DJI announced its Mavic drone, BofA/Merrill analyst Jason Mitchell says that the product will appeal more to drone enthusiasts, while GoPro's Karma drone will be more popular with casual consumers and those focused on film. The analyst sees "little risk" to his Q4 estimates for GoPro as a result of Mavic's launch ,since he did not expect GoPro to obtain much revenue from Karma in Q4. Although the analyst believes that Mavic increases GoPro's risk in fiscal 2017, he continues to believe that Karma will be able to obtain a 4%-5% share of the drone market in fiscal 2017. Mitchell keeps a $19 price target and Buy rating on GoPro.
AMZN Amazon.com
$834.09

3.09 (0.37%)

10/12/16
MSCO
10/12/16
NO CHANGE
Target $110
MSCO
Morgan Stanley sees 'un-grandfathering' peaking for Netflix in Q3
Morgan Stanley analyst Benjamin Swinburne believes the market expects Netflix (NFLX) to report Q3 domestic net subscriber additions that fall short of the company's 300K forecast. However, he thinks the impact of "un-grandfathering" will peak in Q3 and that the percentage of U.S. members seeing price increases will begin to fade in Q4. While acknowledging that Amazon (AMZN) continues to grow as a competitor for content and time spent, Swinburne notes that local and regional players in many markets continue to struggle. The analyst keeps an Overweight rating and $110 price target on Netflix shares.
10/10/16
DBAB
10/10/16
INITIATION
Target $90
DBAB
Sell
Deutsche sees Netflix takeover as unlikely, starts shares at Sell
Deutsche Bank analyst Bryan Kraft initiated shares of Netflix (NFLX) with a Sell rating and $90 price target. The stock closed Friday down 25c to $104.82. The risk/reward is unattractive as consensus expectations reflect an "optimistic case," Kraft tells investors in a research note. Market expectations appear too high through 2020, the analyst contends. He also expresses skepticism that Netflix will be acquired. The business is "too fully formed" and valued to be acquired by Disney (DIS) and Apple (AAPL), Kraft writes. He also sees Amazon.com (AMZN) as a competitive risk to Netflix.
10/12/16
CANT
10/12/16
NO CHANGE
Target $1000
CANT
Buy
Amazon.com price target raised to $1,000 from $835 at Cantor
Cantor Fitzgerald analyst Youssef Squali raised his price target for Amazon.com to $1,000 from $835 citing continued strength in core retail and sustained momentum in Web Services. The stock closed yesterday down $10.71 to $831.00. We're reaching a tipping point in e-commerce, with revenue growth in the U.S. accelerating year-over-year in the first nine months of 2016, Squali tells investors in a research note. This trend is "playing into the hands of market leader Amazon," the analyst contends. He points out that Prime's user base is growing and that Amazon's share of retail searches online is growing. The analyst expects Amazon Web Services' "strong economics" to continue to fund growth initiatives at Amazon. Squali sees the stock as continuing to "grind higher." He keeps a Buy rating on the name.
BBY Best Buy
$39.77

1.44 (3.76%)

10/12/16
CLVD
10/12/16
NO CHANGE
CLVD
Neutral
Best Buy's near-term fundamentals attractive, says Cleveland Research
Cleveland Research analyst Daryle Boehringer said his near-term outlook for Best Buy is more positive given sustained share gains and increased optimistic feedback in the mobile category, creating a more attractive setup for Q3 quarter-to-date and potentially for Q4 as well. Boehringer expects domestic comps to increase 1.8%, above consensus of 1%, due to sustainability of share gains and a favorable mobile segment outlook. The analyst sees upside to his Q3 earnings estimate of 50c, versus consensus of 47c. Boehringer rates Best Buy a Neutral.
10/12/16
RHCO
10/12/16
NO CHANGE
RHCO
Best Buy, GameStop should be able to sidestep Note 7 impact, says SunTrust
SunTrust analyst David Magee, in two separate notes to investors, said that he believes Samsung's (SSNLF) troubles with the Galaxy Note 7 should not translate to shortfalls for either GameStop's (GME) mobile stores or for Best Buy (BBY), as in both cases most of their customers will simply pick different models. Sony's VR headset and other upcoming products in the category are "ideal for customers to try out in stores," added Magee, who keeps a Buy rating on both GameStop and Best Buy.
08/24/16
WEDB
08/24/16
NO CHANGE
WEDB
Best Buy likely to return to comp sales declines, says Wedbush
Wedbush analyst Michael Pachter says that Best Buy's Q2 results were bolstered by the company's control of promotional activity and by its share repurchases. However, the analyst expects the company's comps to begin to decline persistently due to "a lack of compelling new products" for the holiday season. He thinks that the company's cost cutting is approaching its limit, and he keeps an Underperform rating on the shares.

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H&E Equipment

$26.97

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BTX

BioTime

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MBRX

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GNCA

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