GoPro, Inc.GPRO was a big mover last session, as the company saw its shares rise more than 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company-as the stock is now down 4.9% in the past one-month time frame.
The stock gained after GoPro announced that its revenues and gross margin for the third quarter of 2017 are likely to be at the higher end of their previously announced ranges of $290-$310 million and 36%-38% respectively.
The company has seen four positive estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for GoPro. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
GoPro, Inc. Price
GoPro currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the Consumer Discretionary sector is Sony Corporation SNE , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.