Mid-Day Movers: GoPro Inc. (GPRO), Tech Data Corp. (TECD), Abercrombie & Fitch (ANF), Palo Alto Networks (PANW)

Shares of GoPro Inc. (GPRO) jumped 6.5% to $56.74 in midday trading Thursday after founder and CEO Nick Woodman confirmed at a ReCode conference that the company is developing a virtual reality accessory for its Hero4 camera as well as a quadcopter drone.

Shares of GoPro have risen 27% over the last year and 35% over the past three months.

Tech Data Corp. (TECD) shares surged 6.40% to $65.14 as its first quarter earnings per share and revenue beat Street forecasts. The information technology products distributor posted EPS of $0.80 per share, excluding non-recurring items, $0.08 better than consensus estimate. Revenue came in at $5.89 billion in the period, also topping Street $5.68 billion forecasts.

Shares of Abercrombie & Fitch Co. (ANF) are higher by 11.65% in late trading on Thursday even though its Q1 EPS and revenue missed Wall Street estimates. The $1.53 billion market cap apparel retailer said its loss widened to $63.2 million, or $0.91 per share. Non-GAAP losses came in at $0.53 per share vs. estimates of a loss of $0.34 per share.

For the next quarter and second half of the year, Abercrombie said it expects sales at stores open a year to improve despite a dollar that continues to gain strength and hurt its revenues. The company gets over 35% of its revenue from its overseas business.

After rising to a $22.04 intraday high ANF shares recently traded at $21.94. The stock has a 52-week range of $19.34 to $45.50. ANF is down 45.05% year-over-year, compared with a 10.60% gain in the S&P 500.

Shares of Palo Alto Networks (PANW) are rallying by 3.85% to $166.84 in midday trading after the company posted strong third quarter earnings results, which beat analysts’ expectations. Total revenue grew 55% yoy to a record $234.2 million, compared with $150.7 million for the fiscal third quarter 2014. The company beat Q3 consensus EPS estimates by $0.03.

On valuation measures, Palo Alto Networks, Inc. shares have a PEG and forward P/E ratio of 4.24 and 108.00, respectively. Price/Sales for the same period is 17.89 while EPS is ($3.22). Currently there are 25 analysts that rate PANW a ‘Buy’, 6 rate it a ‘Hold’. No analyst rates it a ‘Sell’. PANW has a median Wall Street price target of $167.00 with a high target of $200.00.

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