Today’s Research Reports on Stocks to Watch: GoPro and Shopify

NEW YORK, NY / ACCESSWIRE / May 9, 2018 / GoPro saw more gains on Tuesday after an impressive earnings beat last week for the first quarter. Shares of Shopify also sailed higher after announcing a new app called Shopify Ping that will bring merchants and customers together on a united messaging tool.

RDI Initiates Coverage on:

GoPro, Inc.
https://rdinvesting.com/news/?ticker=GPRO

Shopify Inc.
https://rdinvesting.com/news/?ticker=SHOP

GoPro, Inc. shares closed up 4.60% on nearly 7 million shares yesterday. The camera maker saw it shares rise even more after announcing its financial quarterly report last week. For the first quarter 2018, GoPro announced revenue of $202.3 million. This was a decline of 7.4% YOY. EPS was at a loss of 34 cents. The company beat on both the top and bottom line as analysts were expecting revenue of $184.2 million with an EPS loss of 37 cents. Analysts are expecting the company to post a revenue drop of 19.2% YOY in the second quarter and an 8.5% drop YOY to $1.08 billion in fiscal 2018. For the quarter the company also revealed that camera units shipped had increased 2.7% year over year to 758,000. This was helped by the strong demand for GoPro’s high-end HERO6 Black and HERO5 Black cameras. These cameras made up over 60% of camera units shipped and dollar sales. The company had also launched a $199 entry-level HERO camera in March and is planning to expand distribution to big retailers like Target and Walmart in Q2.

Access RDI’s GoPro, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=GPRO

Shopify Inc. shares closed up 3.43% yesterday on around 2.3 million shares traded. The ecommerce company announced some new product announcements at Unite, the company’s annual conference that brings together their international developer community. “We want to give a voice to all kinds of entrepreneurs around the world,” said Shopify CEO Tobi Lutke. “And that means making it easier for them to run a business and become successful. Unite is when we show the world our progress on this journey, and invite our developer and partner community to join us.” The company announced a new app on Tuesday that will help its customers communicate directly on a united messaging tool. The company stated on its Product Hunt page, “Shopify Ping is a free mobile workspace for Shopify merchants that brings together customer conversations, marketing workflows, and more in a single iOS app.” Constellation Research analyst and founder, Ray Wang, remarked to TechCrunch that “Ping is a smart move. The goal is to move the purchase behavior to where the customer is. Chat and marketing convergence is happening in commerce.” The tool will be free and will be available sometime late this summer. Android users will not be able to use the app for now.

Access RDI’s Shopify Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SHOP

Our Actionable Research on GoPro, Inc. (NASDAQ: GPRO) and Shopify Inc. (NYSE: SHOP) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

ReleaseID: 499062