GoPro (GPRO) Rolls Out New HERO12 Black Camera: Key Takeaways
GoPro GPRO unveils new HERO12 Black camera with an overhauled power management system which enables up to 2x longer runtimes.
The camera also features HDR video in 5.3K and 4K resolution coupled with support for Bluetooth audio devices (includes Apple AirPods) and enhanced HyperSmooth 6.0 video stabilization. It has a variety of other new camera features for both new users and professionals.
GoPro mentions that the camera will be able to deliver 70 minutes of continuous recording at 5.3K60 which is the highest performance setting for HERO12 Black. Further, it will also be able to deliver over 95 minutes at 5.3K30 and more than 155 minutes of recording at 1080p30, with HyperSmooth 6.0 video stabilization on.
GoPro, Inc. Price and Consensus
GoPro, Inc. price-consensus-chart | GoPro, Inc. Quote
HERO12 Black boasts a new Max Lens Mod 2.0 accessory. This will allow market's broadest 177° field of view at 4K resolution at 60 frames per second, added GPRO. The lens can capture video and photos in Max Wide, Max SuperView and hyper-immersive Max HyperView field of view settings. This will enable users to utilize HERO12 Black's extra-large 8:7 sensor.
HERO12 Black and Max Lens Mod 2.0 will be available in stores globally from Sep 13, 2023.
The company is also launching a new Quik desktop app which is available to GoPro subscribers at no extra cost. Quik desktop will be available for Mac from November 1 and for Windows in Summer 2024.
Headquartered in San Mateo, CA, GoPro is one of the leading manufacturers of the world's most handy camera and enabler of some of today's most immersive and engaging content. The company’s performance is being cushioned by higher subscriber base and expansion of its direct-to-consumer business. In second quarter of 2023, its subscriber base rose 27% year over year.
GPRO also plans to restore its retail presence to pre-pandemic levels. It shipped 704 million camera units during the second quarter of 2023.
However, GoPro’s performance is being affected due to strategy shift and related pricing actions. Higher sales of lower-margin entry-level cameras weighed on margin performance in the last reported quarter. Management expects uncertain macroeconomic conditions might keep consumer spending under pressure in the second half of the year. Stiff competition, high product concentration risk and increasing expenses are concerns.
At present, GoPro has a Zacks Rank #4 (Sell). Shares of the company have lost 38.4% in the past year compared with the sub-industry’s gain of 12.4%.
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Stocks to Consider
Some better-ranked stocks worth consideration in the broader technology space are Badger Meter BMI, Synopsys SNPS and Adobe ADBE. Badger Meter sports a Zacks Rank #1 (Strong Buy) while Synopsys and Adobe, each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Badger Meter’s 2023 EPS has increased 5.1% in the past 60 days to $2.86. BMI’s earnings beat estimates in the last four quarters, the average surprise being 6.7%. Shares of BMI have surged 69.6% in the past year.
The Zacks Consensus Estimate for Synopsys’ fiscal 2023 EPS is pegged at $11.09, up 2.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.4%.
SNPS earnings surpassed estimates in the last four quarters, the average beat being 4.2%. Shares of SNPS have rallied 39.5% in the past year.
The Zacks Consensus Estimate for Adobe’s fiscal 2023 EPS has remained unchanged in the past 60 days at $15.70. ADBE’s earnings outshined estimates in the last four quarters, the average surprise being 3.1%. Shares of ADBE have jumped 46.3% in the past year.
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