GoPro Inc (NASDAQ:GPRO) Treads Water While Consumers Distracted by DronesAuthor: Victor AlagbeLast Updated: June 11, 2015 GoPro Inc (NASDAQ:GPRO) might need to do a better job at convincing investors that it has what it takes to establish a consistently profitable business after analysts took a swipe at the company. Action camera maker, GoPro is already in turbulent waters after analysts from Citigroup research, Jeremey David and Ehud Gelblum lowered their estimates on the company’s growth and earnings.Yesterday, Citi analysts noted that GoPro’s point of view wearable cameras might never catch on with the mainstream consumer electronic market. The analysts observed that fewer people are planning to buy an action camera and that drones are already stealing the attention of an easily distracted consumer.The analysts made this observation in light of revelations from a consumer survey that they conducted through SurveyMonkey. According to them, “while the US consumers surveyed were not the same ones we surveyed a year ago, the two samples are similarly representative of the US population. Our main take-away is that only 5% of U.S. consumers plan on purchasing an action camera in the next 12 months, down from 7% a year ago.” Subsequently, the analysts have reduced their estimates for GoPro’s revenue and earnings projections. Citi now expects GoPro to deliver fiscal 2015 earnings of $1.55 per share on revenue of $1.85B down from the previously projected EPS of $1.86 per share of revenue of $2.19B.In addition, they expect GoPro to ship about 9.3 million cameras by 2018 down from the previous estimate of 10.6 million units.Drones Challenge Hero to Top SpotCamera-equipped drones are challenging GoPro Hero+ cameras as action sport enthusiasts look for the best ways to make content with minimal risks. Hence, drones might offer better viewing angles to shoot pictures and videos than wearable cameras.The Citi analysts also noted that “the faster the growth of the drone category, the higher the risk of a slowdown in the action camera category”. Jim Cramer is conscious of the impressive opportunity in drones. Hence, he recommends paying more attention to drones than to GoPro.Shares of GoPro take a DipFollowing the pessimistic outlook, the shares of GoPro dropped 1.31% during intraday trading yesterday to close at a $57.91. The decline continued during after-hours trading as the stock dropped another 0.67% to $57.52. The $57.52 closing price marks a massive 41.59% discount to the stock’s 52-week trading high of $98.47 that was marked in October 2014. Shares of GoPro opened at $64.90 this year and the stock has lost about 11.37% in the year-to-date period.