In the latest trading session, GoPro (GPRO) closed at $5.85, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq lost 0.24%.Coming into today, shares of the action video camera maker had lost 18.18% in the past month. In that same time, the Consumer Discretionary sector gained 3.74%, while the S&P 500 gained 4.13%.Investors will be hoping for strength from GPRO as it approaches its next earnings release. On that day, GPRO is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 126.67%. Our most recent consensus estimate is calling for quarterly revenue of $301.28 million, up 6.58% from the year-ago period.GPRO's full-year Zacks Consensus Estimates are calling for earnings of $0.38 per share and revenue of $1.26 billion. These results would represent year-over-year changes of +265.22% and +9.77%, respectively.It is also important to note the recent changes to analyst estimates for GPRO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GPRO is holding a Zacks Rank of #1 (Strong Buy) right now.Investors should also note GPRO's current valuation metrics, including its Forward P/E ratio of 15.4. This represents a premium compared to its industry's average Forward P/E of 14.3.We can also see that GPRO currently has a PEG ratio of 1.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. GPRO's industry had an average PEG ratio of 1.85 as of yesterday's close.The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GoPro, Inc. (GPRO): Free Stock Analysis Report To read this article on Zacks.com click here.