GoPro is losing a battle as stock price plunged 75 percent this year.
Competition from Garmin, Polaroid, Sony and Xiaomi did not make it easier for maker of the Hero action camera.
Analysts are even predicting that GoPro's sales will fall 17 percent further in the fourth quarter.
Not a good sign for the action-camera sales to fall down during the holidays.
James Faucette, Morgan Stanley analyst, downgraded stock price of GoPro from neutral to underweight. He lowered his target price from $23 to $12 because of comsumers "weak response." The situation will not likely change until "key challenges of off-loading, storage and editing content have not been adequately addressed for a product intended to be 'taken anywhere to record everything."
"That's not to say Faucette's view is entirely surprising. I voiced similar concerns over the HERO4 Session only last week, noting this marked its second price reduction since launching five months ago," Steve Symington wrote on The Motley Fool.
"Likelihood that high inventory persists into 2016, slower consumer drone opportunity, and later assumed HERO 5 compels us to cut estimates," Morgan Stanley said in a report by The Street.
Meanwhile, GoPro Inc is planning on repurchasing its stock of $300 million.
"It's incredible to see our world from new perspectives, it's a real 'Oh my god' moment. We did that with our GoPro cameras, and we see a similar opportunity in the quadcopter market. It's something that's in our DNA, and we are excited about it across the company," CEO Nick Woodman said in a report by Ecumenical News.
GoPro is rumored to launch Hero 5 next year. The company has already slashed Hero 4 Session to $300 in September. Today, the camera is already sold for $200.
The company, still struggling with its latest stock price, has yet to confirm a release date for their new "GoPro Hero 5."
