Sorry surfers-GoPro's going 'mainstream': Pro
After blowing past Wall Street's expectations in the third quarter, GoPro (GPRO) seems poised to move past its core user-base of surfers, snow-boarders and outdoor enthusiasts this holiday season, Wedbush Securities analyst Michael Pachter told CNBC.
"I think people thought of this as an outdoor athlete's brand, and I think it's becoming a mainstream brand," Pachter said after GoPro released its better-than-expected earnings report. "The YouTube videos are proving to you that this has really got a broad, broad, addressable market."
Read More GoPro beats on earnings, stock rises 11 percent
GoPro shares spiked Thursday when it reported earnings per share 4 cents higher than estimates. The high-definition camera maker saw revenue beat expectations, and it also forecast strong sales during the upcoming holiday shopping season.
The stock's momentum continued into Friday, with share prices surging 15 percent higher in early trading.
Pachter, who holds an $81 price target on GoPro, said Thursday on CNBC's " Fast Money " that he expects the company to see a flood of new customers in the coming weeks. GoPro now offers an entry-level HERO camera at $129, and that will open the door to a more casual customer base, he said.
At the other end of the price spectrum, GoPro offers a $499 professional-grade option called the HERO4 Black. Charlie Anderson, senior research analyst at Dougherty & Company, told CNBC on Friday that the high-end model could become a best-seller for Christmas.
Read More GoPro stock a 'buy' even on spike: Wedbush analyst
GoPro's higher-end cameras shoot ultra-high definition video-or 4K video. Doughtery said he sees a lack of 4K content available to consumers who bought ultra-high-def TVs or computer displays. Those early adopters might just make their own 4K content with new GoPro cameras, he said.
Anderson called GoPro's holiday season a "referendum" on whether consumers care about 4K video.
"If you buy a 4K TV right now, there's not a lot of stuff you can watch in terms of content, so I actually have a theory that people taking video on their GoPro cameras will be the largest source of 4K content in sort of the near term," Anderson said on " Squawk Box ."
