GoPro stock is worth buying, even after shares spiked higher on a quarterly earnings beat, Michael Pachter of Wedbush Securities said Thursday.
The action-camera maker posted earnings of 12 cents on revenue of $280 million, topping Wall Street expectations of 8 cents on $266 million.
On CNBC's "Fast Money," Pachter focused on the company's year-over-year doubling of social media traffic.
"I think that rather than that being a revenue story, that's really more of an indicator of how much headroom this brand has for generating awareness among consumers," he said. "I think people thought of this as an outdoor athlete's brand, and I think it's becoming a mainstream brand. And the YouTube videos are proving to you this is really about a broad, broad addressable market."
Pachter also said the company's new, lower-priced camera would be a positive catalyst.
"For $129, that's almost a disposable gift. It's almost like buying a Nintendo DS. I know that my kids can handle that type of product," he said. "I think it really is going to become a mainstream product."
Triogem Asset Management's Tim Seymour noted GoPro stock was trading at a price 60 times 2015 earnings.
"I think the stock needs to trade down to a better multiple, and I don't think that the earnings are going to trade up to meet 60 times," he said.
Dan Nathan of RiskReversal.com was likewise skeptical.
"I just think Flip camera. That's all I think about," he said, referring to the portable video cameras that soared in popularity beginning in 2006, only to cease production in 2011.
Nathan also cast aspersions on GoPro as a media company, calling the idea "ridiculous."
"Well, why wouldn't we place a value on all the videos that people are uploading to YouTube from iPhones, you know what I mean?" he said.