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GoPro will grow, analysts say

How much farther will GoPro go? According to analysts, it seems as if the sky is the limit.

"I think the company and the stock have great days ahead," Gene Urcan, managing director with the Cappello Group, told CNBC's "Closing Bell" Tuesday. "Long term, I just don't see any competitor dethroning GoPro."

Read MoreGoPro's hot, but for how long?

The stock, which trades on the NASDAQ as GPRO, traded around $49 a share Tuesday, just about doubling from its IPO price of $24 when it debuted last Thursday.

Belpointe Asset Management Chief Strategist David Nelson initially said to avoid the stock and said he now feels like he may have gotten it wrong.

"The truth is I didn't do my homework," Nelson said. "What I missed that investors obviously have gotten is that this potential hardware company could simply morph into a media company."

Read MoreGoPro CEO eyes seamless experience for users

Nelson believes next quarter is going to be key for the company.

"The first quarter was down year over year, maybe it was part of the distraction of the IPO. I'm looking at the second quarter, maybe that will be an entry," he said.

Read MoreEntrepreneur rides the GoPro wave

—By CNBC's Laura Petti.

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