GoPro's share price has crashed to an all-time low

GoPro has hit an all-time low.

The camera company’s stock has crashed down 8% to around $US8 a share, its lowest since it went public in June 2014, amid fears it has reached market saturation.

CNBC reports that on Monday, Goldman Sachs analysts blasted the company in a research note, downgrading its recommendation to sell.

“GoPro faces significant challenges following saturation of its core action cameras market, product rollout issues in the holiday season, and a disappointing entry into the drone market,” analyst Simona Jankowski wrote.

Goldman’s scathing verdict comes after Citi Research began covering GoPro’s stock earlier in March. also giving it a sell rating. “GoPro’s market-leading action cam products are not enough to overcome the overall decline in standalone imaging products (camcorders / cameras) and increased saturation in mature markets like the US,” the bank’s analysts wrote. “In the absence of significant topline growth, the company has started to focus on operating expense control, but breakeven remains at least 2 years out, in our view.”

In short: Banks are worried that GoPro has reached everyone it’s likely going to be able to, and there’s no room left for growth — making it a bad choice for investors.

A GoPro spokesperson did not immediately respond to Business Insider’s request for comment.

Here’s how that stock drop looks, from June 2014 to the present day. It’s now a long way from its giddy highs of nearly $US100 a share in the months after its IPO.

In February, GoPro missed analysts’ expectations for its fourth quarter earnings, with revenue sliding downward 5.7% year-on-year, with its predictions for Q1 2017 revenue ($US190-210 million) well below Wall Street estimates ($US268 million).

“In 2016, big investments in hardware, cloud, and mobile yielded a solid foundational experience for our customers,” GoPro founder and CEO Nicholas Woodman said in a statement at the time. “In 2017, we will build on this foundation for our customers while improving efficiency and managing cost to achieve profitability.”

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