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Will GoPro's New HERO and HERO13 Black Cameras Drive Top Line?
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GoPro (GPRO - Free Report) recently launched two new cameras — HERO13 Black and HERO — with new features. Both HERO and HERO13 Black cameras are available for preorder. For HERO, the preorder shipping and global retail on-shelf availability will begin on Sept. 22, while the same for HERO13 Black will commence on Sept. 10.
Priced at $199, HERO is the smallest and lightest 4K GoPro ever (weighing only 86 grams) with a screen that boasts an ultralight design and striking 4K image quality, highlighted GoPro. HERO has 35% less volume and 46% less mass compared with HERO13 Black. This camera is waterproof (up to 16 feet) and can capture Ultra HD 4K and HD 1080p video, 12MP photos or slow down with 2.7K 60 frames per second. On a single charge, HERO can uninterruptedly record up to 100 minutes at its highest video setting, added GPRO.
HERO13 Black features four new swappable HB-Series lens mods that the camera automatically detects and makes adjustments to the settings accordingly. In addition to 5.3K 60 frames per second video and HyperSmooth stabilization, the camera has a revamped (10% larger capacity) and more power-efficient Enduro Battery, which boosts runtimes under all weather conditions. This is compatible with a magnetic latch mounting (for $24.99) and strong WiFi 6 for up to 40% faster content transfer speeds. HERO 13 Black can capture up to 400 frames per second at HD-quality 720p video, 5.3K at 120 frames per second, as well as 900p at 360 frames per second video, added GPRO.
HERO13 Black is priced at $399.99 for the standalone camera, whereas the HERO13 Black Creator Edition is priced at $599.99. HERO13 Black Creator Edition comes equipped with the Volta Power Grip, Media Mod and Light Mod. Customers can also buy the optimized HERO13 Black Accessory Bundles (exclusive to GoPro.com) which include the HERO13 Black Camera, the handler, Enduro battery, curved adhesive mount, 64GB SanDisk MicroSD card and camera case.
GPRO’s New Cameras Are Compatible With Quik App
HERO13 Black and HERO are compatible with the Quik app, which will aid users in easy transfer of photos and videos to mobile devices. This also offers unlimited cloud storage with easy auto-upload. Users can leverage the Quik app to edit the shots and add filters and data overlays, zoom in and crop the footage as required.
Users can get the above benefits by either opting for Premium ($49.99 per year) or Premium+ ($99.99 per year) subscriptions, available on GoPro.com and the Quik app.
Can New Cameras Drive Top-Line Growth for GPRO?
The launch of two new cameras is expected to cushion top-line expansion in the coming quarters. However, a further delay in the launch of a new entry-level camera into 2025 instead of the fourth quarter of 2024 is likely to weigh on the performance. The delay in launch will have a negative impact of $20-$25 million in the fourth quarter of 2024, relative to earlier guidance. The cumulative effect of delayed product launches for 2024 revenues is projected to be $100 million.
As a result, the company now expects units to be between 2.6 million and 2.7 million compared with 2.85 million projected earlier. Revenues in 2024 are anticipated to be in the range of $850-$870 million compared with the earlier projection of slightly higher than $900 million.
Apart from the delays, muted consumer spending in the absence of promotional activity, declining camera sales at GoPro.com, global macroeconomic concerns, forex volatility (China and Japan) and increasing competition remain headwinds.
In the last reported quarter, revenues of $186 million fell 23% year over year. Weak sales at GoPro’s retail and GoPro.com channels acted as major headwinds. However, the figure exceeded the company’s guidance of $170 million (+/- $5 million) attributed to higher demand for the HERO12 Black camera in Europe and North America.
GPRO’s Zacks Rank & Stock Price Performance
At present, GoPro has a Zacks Rank #3 (Hold). Shares of the company have lost 65.2% in the past year against the sub-industry’s growth of 7.1%.
The Zacks Consensus Estimate for Adobe’s fiscal 2024 EPS is pegged at $18.16, which remained unchanged in the past 30 days. ADBE’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 2.7%. The long-term earnings growth rate is 13%. Its shares have risen 2.3% in the past year.
The Zacks Consensus Estimate for ANSS’ 2024 earnings is pegged at $9.96, which remained unchanged in the past 30 days. ANSS’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, the average surprise being 4.8%. Its shares have lost 3.8% in the past year.
The Zacks Consensus Estimate for MANH’s 2024 EPS is pegged at $4.26, which rose 9.2% in the past 60 days. MANH’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 26.6%. The stock has surged 27.8% in the past year.
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Will GoPro's New HERO and HERO13 Black Cameras Drive Top Line?
GoPro (GPRO - Free Report) recently launched two new cameras — HERO13 Black and HERO — with new features. Both HERO and HERO13 Black cameras are available for preorder. For HERO, the preorder shipping and global retail on-shelf availability will begin on Sept. 22, while the same for HERO13 Black will commence on Sept. 10.
Priced at $199, HERO is the smallest and lightest 4K GoPro ever (weighing only 86 grams) with a screen that boasts an ultralight design and striking 4K image quality, highlighted GoPro. HERO has 35% less volume and 46% less mass compared with HERO13 Black. This camera is waterproof (up to 16 feet) and can capture Ultra HD 4K and HD 1080p video, 12MP photos or slow down with 2.7K 60 frames per second. On a single charge, HERO can uninterruptedly record up to 100 minutes at its highest video setting, added GPRO.
HERO13 Black features four new swappable HB-Series lens mods that the camera automatically detects and makes adjustments to the settings accordingly. In addition to 5.3K 60 frames per second video and HyperSmooth stabilization, the camera has a revamped (10% larger capacity) and more power-efficient Enduro Battery, which boosts runtimes under all weather conditions. This is compatible with a magnetic latch mounting (for $24.99) and strong WiFi 6 for up to 40% faster content transfer speeds. HERO 13 Black can capture up to 400 frames per second at HD-quality 720p video, 5.3K at 120 frames per second, as well as 900p at 360 frames per second video, added GPRO.
GoPro, Inc. Price and Consensus
GoPro, Inc. price-consensus-chart | GoPro, Inc. Quote
HERO13 Black is priced at $399.99 for the standalone camera, whereas the HERO13 Black Creator Edition is priced at $599.99. HERO13 Black Creator Edition comes equipped with the Volta Power Grip, Media Mod and Light Mod. Customers can also buy the optimized HERO13 Black Accessory Bundles (exclusive to GoPro.com) which include the HERO13 Black Camera, the handler, Enduro battery, curved adhesive mount, 64GB SanDisk MicroSD card and camera case.
GPRO’s New Cameras Are Compatible With Quik App
HERO13 Black and HERO are compatible with the Quik app, which will aid users in easy transfer of photos and videos to mobile devices. This also offers unlimited cloud storage with easy auto-upload. Users can leverage the Quik app to edit the shots and add filters and data overlays, zoom in and crop the footage as required.
Users can get the above benefits by either opting for Premium ($49.99 per year) or Premium+ ($99.99 per year) subscriptions, available on GoPro.com and the Quik app.
Can New Cameras Drive Top-Line Growth for GPRO?
The launch of two new cameras is expected to cushion top-line expansion in the coming quarters. However, a further delay in the launch of a new entry-level camera into 2025 instead of the fourth quarter of 2024 is likely to weigh on the performance. The delay in launch will have a negative impact of $20-$25 million in the fourth quarter of 2024, relative to earlier guidance. The cumulative effect of delayed product launches for 2024 revenues is projected to be $100 million.
As a result, the company now expects units to be between 2.6 million and 2.7 million compared with 2.85 million projected earlier. Revenues in 2024 are anticipated to be in the range of $850-$870 million compared with the earlier projection of slightly higher than $900 million.
Apart from the delays, muted consumer spending in the absence of promotional activity, declining camera sales at GoPro.com, global macroeconomic concerns, forex volatility (China and Japan) and increasing competition remain headwinds.
In the last reported quarter, revenues of $186 million fell 23% year over year. Weak sales at GoPro’s retail and GoPro.com channels acted as major headwinds. However, the figure exceeded the company’s guidance of $170 million (+/- $5 million) attributed to higher demand for the HERO12 Black camera in Europe and North America.
GPRO’s Zacks Rank & Stock Price Performance
At present, GoPro has a Zacks Rank #3 (Hold). Shares of the company have lost 65.2% in the past year against the sub-industry’s growth of 7.1%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks worth consideration in the broader technology space are Manhattan Associates (MANH - Free Report) , Adobe (ADBE - Free Report) and ANSYS (ANSS - Free Report) . While Manhattan Associates sports a Zacks Rank #1 (Strong Buy), Adobe and ANSYS carry a Zacks Rank #2 (Buy) each, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Adobe’s fiscal 2024 EPS is pegged at $18.16, which remained unchanged in the past 30 days. ADBE’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 2.7%. The long-term earnings growth rate is 13%. Its shares have risen 2.3% in the past year.
The Zacks Consensus Estimate for ANSS’ 2024 earnings is pegged at $9.96, which remained unchanged in the past 30 days. ANSS’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, the average surprise being 4.8%. Its shares have lost 3.8% in the past year.
The Zacks Consensus Estimate for MANH’s 2024 EPS is pegged at $4.26, which rose 9.2% in the past 60 days. MANH’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 26.6%. The stock has surged 27.8% in the past year.