GoPro, Inc. (GPRO - Analyst Report) stunned the market after the bell yesterday as it released dismal preliminary fourth-quarter 2015 results, weeks before its scheduled earnings release on Feb 3. The action camera-maker’s string of announcements included weaker-than-expected sales for the fourth quarter, downsizing the workforce, and the stepping down of a key executive.

The ensuing dive in GoPro stock was as extreme as the moments its cameras seek to capture. GoPro’s stock plummeted nearly 25% in after-hours trading following the announcement, skiving hundreds of millions of dollars off the company’s market capitalization.

GoPro said its fourth-quarter revenue would be about $435 million, which represents a decline of a whopping 47% year-over-year. It had earlier forecast sales of $500 million to $550 million during the busy holiday season. The Zacks Consensus Estimate for fourth-quarter sales currently stands at $513 million.

The company expects to record a $21 million charge related to the re-pricing of its HERO4 camera. In addition, it would book an expense of $30 million to $35 million for excess inventory, excess parts and obsolete tooling to make the cameras — which might really hurt margins for the quarter.

Next on tap for the company are pink slips. After a headcount growth of about 50% in the past two years, GoPro now intends to lay off 7% of its workers. This calls for a charge of another $5 million and $10 million, mostly in severance costs.

In recent months, the company has been struggling to achieve its earlier rapid growth, and has faced friction in proving that it can innovate beyond its trademark action cameras. Its latest camera, the Hero 4 Session, failed to hold consumers’ interest at a time when the market for action cameras is becoming increasingly saturated.

The events indicate a sharp reversal of fortune for GoPro. After its IPO in June 2014, investors were racing to buy the company’s stock. After hitting a record high of $98.47 in October 2014, the company’s shares have been skidding downhill as growth has slowed. The stock has plummeted 70% in the last year, and is now trading at all-time lows.

GoPro is fast turning out to be one of the most brutal examples of the latest crop of over-hyped technology companies selling hardware and trading at enormous valuations.

Even analysts polled by Zacks are becoming less constructive on the future performance of this Zacks Rank #4 (Sell) stock. Over the past 60 days, the Zacks Consensus Estimate for 2015 has been cut from 81 cents to 69 cents.

However, while GPRO’s worst fears of being a one-trick pony are being realized, there are many other companies in the small cap universe that are set to grow by leaps and bounds.

For those who have been burnt by GoPro shares and those who are just looking for some great growth picks to ride on, we present four Zacks Rank #1 (Strong Buy) stocks, which belong to the small cap universe and are excellent investment opportunities right now.

According to our style score system, these companies boast a top Growth Style Score of ‘A’. Our Growth Style Score condenses all the essential metrics from the company’s financial statements to achieve a true sense of the quality and sustainability of its growth. Our research shows that stocks with Growth Style Scores of ‘A’ or ‘B’ when combined with Zacks Rank #1 (Strong Buy) or #2 (Buy) offer the best investment opportunities in the growth investing space.

Further, all of these companies have seen their EPS consensus estimate moving up over the recent times as well. Each of these companies is also projected to see its EPS grow by at least 25% this year.

Bridgeline Digital, Inc. (BLIN - Snapshot Report) provides iAPPS Web engagement management product platform, and is poised to grow over 59% this year. Analysts clearly envision a relatively bright future for the company, as the Zacks Consensus Estimate for 2015 has narrowed from a loss of 55 cents to a loss of 49 cents per share in the last 30 days.

Cross Country Healthcare, Inc. (CCRN - Snapshot Report) provides healthcare staffing services, and expects earnings growth of 26.9% for the current year. Analysts are also becoming increasingly bullish on the company, as estimates revisions have led the Zacks Consensus Estimate for the current year to increase from 49 cents to 53 cents per share over the past two months.

Isle of Capri Casinos, Inc. (ISLE - Snapshot Report) is an owner and operator of branded gaming and entertainment facilities in the U.S. ISLE is poised to grow a whopping 86.8% for the current year. Also, the company is getting a lot of favour from analysts of late, as the Zacks Consensus Estimate for the current year has risen from $1.25 per share to $1.42 over the last 2 months.

Jaguar Animal Health, Inc. (JAGX - Snapshot Report) is a development-stage animal health company, and focuses on developing and commercializing gastrointestinal products for companion and production animals. Jaguar is poised to grow at 54.1% for the current year. The Zacks Consensus Estimate for 2015 for the company has narrowed from a loss of $3.00 to a loss of $2.70 per share in the last 60 days.

Bottom Line

These solid companies have favorable growth prospects and are attracting positive analyst attention as well. Mix in a top Zacks Rank and you have a winning combo for any platter.