Other analysts remain more cautious.
"The Session camera strengthens GoPro's dominant competitive positioning in the action sports category, but we do not believe it expands the market to new users, based on features or price point," Stifel analyst Jim Duffy wrote in a note Monday.
Duffy goes on to say that after assessing several different valuation metrics, "our summary view is that, balanced against execution risks, there is insufficient upside potential to justify a Buy rating."
Of course, poring over the books may not be the best way to call the move in such a volatile stock.
"At the CIO level, they spend significantly less time on this and they just go with the chart one way or the other," Neil Azous of Rareview Macro said in a Monday "Trading Nation" segment. "They let the chart, as Todd might say, dictate their mentality as whether to be long or short, and spend a lot less time on the fundamentals."
"So when I think about a situation like this, the most upsetting situation is that it actually goes sideways and nobody has a lot of fun in it," Azous concluded.
Of course, as a glance at the chart confirms, that hasn't quite happened yet for this volatile stock.