While GoPro stock has soared since its initial public offering, the company faces an uphill battle, Oppenheimer analyst Andrew Uerkwitz said Friday.
"If we think about 2014, we do think it's going to be a big year. We think the holiday season's going to be great," he said. "But as GoPro pivots away from action capture, what they've been known for, into what we call life-logging—you know, taking pictures of your kids' wedding, etc.—I think that's going to be a very difficult market to crack. And ultimately we think growth rates will decelerate pretty rapidly as we head through 2015, 2016."
GoPro, which is expected to report its first quarterly earnings after the Oct. 30 closing bell, has seen its stock soar by as much as 150 percent since its June 25 IPO.
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On CNBC's "Halftime Report," Uerkwitz said the lofty price was based on a "misunderstanding of how investors are viewing the market opportunity for GoPro."