Stock Update: GoPro Inc (NASDAQ:GPRO)

[Forbes] GoPro Inc (NASDAQ:GPRO) had been on a tear. At its high of $93.85 earlier this month, the company’s stock was trading at nearly four times its initial public offering price of $24, valuing the San Mateo, Calif.-based camera maker at $11.8 billion.In a week, a large chunk of that–$2.4 billion in market capitalization to be exact–has been erased as unstable market conditions have hurt stocks across the board, particularly affecting highfliers like GoPro.Stock PerformanceTaking a look at the company’s recent performance, GoPro reported second quarter earnings for fiscal 2012 on July 31^st. The company reported actual earnings per share of $0.08 against the consensus Street estimate of $0.07. GoPro posted revenue of $244.60 million against estimates of $237.97 million.GoPro is currently valued at $9.86 billion and closed the last trading session at $80.09. The stock has a 50-day moving average of $57.37 and a 200-day moving average of $49.77.

Is this a Buying Opportunity?There are currently twelve analysts that we track that cover the stock. Of those twelve, five have a Buy rating, six have a hold rating and one has a Sell rating. On a consensus basis this yields a score of 2.33 and a Hold. The combined price objective of these covering analysts is $66.56, which represents a 26.81% difference to the last closing price.The most recent analyst activity consisted of Citigroupboosted their Buy stance on the company. Citigroup has a price target of $94 which represents an upside of 2.76% from the last closing price. On the date of the report, the stock closed at $91.47.Another research firm weighing in recently was FBN Securites who reiterated their rating on the stock. On September 29^thFBN Securities boosted their price target on the stock from $70 to $90, or a 1.6% downside to the current price. On the day of the report, GPRO shares closed at $90.94.Company ProfileGoPro Inc (NASDAQ:GPRO) develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing, and enjoying engaging content. The company offers HERO line of cameras; premium accessories, including battery BacPac, Wi-Fi remote, and LCD touch BacPac accessories; and mounts comprising equipment-based mounts, such as helmet, handlebar, roll bar, and tripod mounts that enable consumers to capture content while engaged in a range of activities, as well as mounts that enable customers to wear the mount on their bodies consisting of wrist housings, chest harnesses, and head straps.