A number of other brokerages have also recently issued reports on GOGO. Northland Securities began coverage on shares of Gogo in a report on Friday, June 12th. They set a “hold” rating and a $2.00 target price on the stock. Zacks Investment Research cut Gogo from a “hold” rating to a “sell” rating in a report on Wednesday, July 1st. Finally, ValuEngine raised Gogo from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $3.08.
The business has a fifty day moving average price of $3.06 and a 200-day moving average price of $3.12. Gogo has a twelve month low of $1.33 and a twelve month high of $7.23.
Gogo (NASDAQ:GOGO) last issued its earnings results on Monday, May 11th. The technology company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). The business had revenue of $184.50 million for the quarter, compared to analysts’ expectations of $167.44 million. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) EPS. As a group, analysts forecast that Gogo will post -2.47 earnings per share for the current year.
In other Gogo news, Director Charles C. Townsend bought 22,610 shares of Gogo stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $1.60 per share, for a total transaction of $36,176.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 40.00% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in GOGO. Mudrick Capital Management L.P. purchased a new position in Gogo in the 1st quarter worth approximately $18,501,000. Morgan Stanley grew its position in Gogo by 64.4% in the first quarter. Morgan Stanley now owns 3,635,822 shares of the technology company’s stock worth $7,707,000 after acquiring an additional 1,423,670 shares in the last quarter. Geode Capital Management LLC increased its stake in Gogo by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 790,757 shares of the technology company’s stock valued at $5,060,000 after acquiring an additional 32,446 shares during the last quarter. SG Americas Securities LLC raised its position in Gogo by 273.1% during the second quarter. SG Americas Securities LLC now owns 619,102 shares of the technology company’s stock valued at $1,956,000 after purchasing an additional 453,184 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Gogo by 101.1% during the first quarter. Nuveen Asset Management LLC now owns 488,011 shares of the technology company’s stock worth $1,035,000 after purchasing an additional 245,389 shares during the last quarter. 54.77% of the stock is currently owned by institutional investors and hedge funds.
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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