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This stock could see wild swings on earnings

If you're a GoPro investor, you may need an iron stomach when the wearable camera maker reports third-quarter results after Wednesday's market close.

"We expect a double-digit move in one direction or the other," Oppenheimer senior analyst Andrew Uerkwitz told "Fast Money. "This is probably the biggest earnings print that the company's had since their IPO, and it will probably drive the direction of the stock for the next six months."

It hasn't been a smooth ride for investors. The company, which has seen its stock fall 57 percent over the past 52 weeks, has been trying to cope with disappointing camera sales. Uekrwitz referred to GoPro's performance as a "death-defying downhill run" in his latest research note.

"We're forecasting only 8 percent growth of revenue. That's well below the Street," he said.

Uerkwitz, who has a sector perform rating on the stock, also believes the earnings per share number will come in light and wants to hear more about GoPro's media strategy.

A GoPro Hero4 camera
Daniel Acker | Bloomberg | Getty Images
A GoPro Hero4 camera

"If they come in with a slight beat or in line, the stock will really start to rally as people start to turn their focus to quadcopters in 2016, " said Uerkwitz. "If it comes in lighter where the EPS really misses on some of the opex (operating expenses) concerns that we have, we think the stock could retest those 52-week lows."

The Street is predicting GoPro will earn $0.29 a share on $433.5 million in revenue.