Lurie Stays Positive On GoPro Inc (GPRO) Outlook

Updated on

GoPro Inc shares have nosedived in the past year but some people maintain that it is not all doom and gloom.

One of those people is SurveyMonkey CEO and GoPro Inc (NASDAQ:GPRO) board member Zander Lurie, who spoke to Bloomberg about the company’s prospects. During the interview he defended the outlook for the company and talked up the capabilities of the soon to be released GoPro Karma drone.

GoPro board member supports leadership team

Lurie was pressed on why he remained so positive about the outlook for a company whose shares have lost 70% of their value in the past year. He expressed his confidence in GoPro leadership, stating that “it’s a dynamic team led by Nick and Tony. It’s an iconic brand.”

He went on to laud the stability of a company that has been in business for over a decade. “If you look at the billion dollar plus companies, they kind of come and go. This is not one of them. The company was founded in 2004,” said Lurie. He later said that both the leadership team and the product range was “kick ass.”

GoPro Inc (NASDAQ:GPRO) has just unveiled its Omni spherical camera rig and is reportedly planning to release a drone by the end of the year. With that in mind Lurie is optimistic on future prospects. “The road map for this year is pretty exciting with the drone and new camera products,” he said.

Karma drone could be of major benefit, says Lurie

The interviewer asked Lurie whether the drone was actually such a big deal given the fact that it has been delayed for so long, and he defended GoPro Inc (NASDAQ:GPRO). Lurie believes that people will still want to use the Karma drone when it is released to “record the most important moments of their lives.”

Personally I believe that might be a bit of a stretch, but GoPro certainly needs to do something to arrest the slide. The Omni camera rig may not be the product which saves the company given that it is aimed at professionals who are willing to pay the asking price of around $3,000.

However Lurie remains positive on the company. “I think GoPro is going to be a long-term winner,” he said.

Leave a Comment