GoPro Inc (GPRO) Slips But May Still Have Upside: Nicole Petallides

GoPro Inc (NASDAQ:GPRO) is getting pummeled despite still being a winner since its initial public offering, Nicole Petallides said in a report on Fox Business Network.

On Friday, Oppenheimer & Co. Inc. initiated coverage on GoPro Inc (NASDAQ:GPRO) with an “Underperform” rating and a low price target of $45.

According to Oppenheimer analyst Andrew Uerkwitz, the rating which is equivalent to a “Sell” rating on other scales is because of what the firm believes is a shrinking growth outlook, unrealistic expectations and valuation concerns for GoPro Inc (NASDAQ:GPRO).

“It still is a real winner but this last month has been tough. They have a ‘Sell’ rating from OpCo. They have had some bad press,” Nicole Petallides said.

Nonetheless, GoPro Inc (NASDAQ:GPRO) has “new cameras” and it “looks like there will be gain here,” the reporter added.

Meanwhile, apart from talking about GoPro Inc (NASDAQ:GPRO), Petallides also discussed Twitter Inc (NYSE:TWTR) and Tesla Motors Inc (NASDAQ:TSLA). As was reported earlier, Twitter Inc (NYSE:TWTR) was down on Monday even before the company reported its quarterly performance for the just-ended third quarter.

Petallides noted that people would have been looking closely at the company’s monthly active users and from there decide their next move regarding the stock.

When it comes to Tesla Motors Inc (NASDAQ:TSLA), the Fox Business Network reported that the company’s stock is down. Furthermore, Petallides also said that the automaker which manufactures luxury electric cars is highlighting its leasing options for customers.

Tesla launched a new “Happiness Guarantee” that lets customers return their Model S vehicles during a three-month period and not get penalized.