Gogo Inc. (NASDAQ:GOGO) Receives $15.30 Consensus Price Target from Analysts

Shares of Gogo Inc. (NASDAQ:GOGO) have received an average rating of “Moderate Buy” from the four ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $15.30.

GOGO has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on Gogo in a report on Thursday, February 29th. They set a “neutral” rating and a $11.00 target price for the company. Morgan Stanley dropped their target price on Gogo from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday.

Gogo Price Performance

GOGO opened at $8.37 on Tuesday. The stock has a 50-day moving average price of $8.80 and a 200-day moving average price of $9.68. Gogo has a 12-month low of $7.53 and a 12-month high of $17.94. The company has a current ratio of 4.37, a quick ratio of 3.49 and a debt-to-equity ratio of 14.43. The stock has a market capitalization of $1.07 billion, a P/E ratio of 7.68 and a beta of 1.08.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The firm had revenue of $97.81 million during the quarter, compared to analysts’ expectations of $96.56 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities analysts predict that Gogo will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Gogo

In other news, Director Harris N. Williams bought 12,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average price of $8.10 per share, with a total value of $97,200.00. Following the transaction, the director now owns 20,990 shares of the company’s stock, valued at $170,019. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Charles C. Townsend acquired 28,857 shares of Gogo stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $9.03 per share, with a total value of $260,578.71. Following the transaction, the director now directly owns 1,740,588 shares in the company, valued at $15,717,509.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harris N. Williams acquired 12,000 shares of Gogo stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average cost of $8.10 per share, with a total value of $97,200.00. Following the transaction, the director now owns 20,990 shares in the company, valued at $170,019. The disclosure for this purchase can be found here. Corporate insiders own 26.00% of the company’s stock.

Institutional Trading of Gogo

Institutional investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC purchased a new position in shares of Gogo in the 1st quarter worth $29,000. Royal Bank of Canada boosted its stake in shares of Gogo by 76.6% in the 3rd quarter. Royal Bank of Canada now owns 3,069 shares of the technology company’s stock worth $37,000 after buying an additional 1,331 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Gogo by 432.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,609 shares of the technology company’s stock worth $39,000 after buying an additional 2,119 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Gogo by 41.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company’s stock worth $44,000 after buying an additional 633 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Gogo by 41.7% in the 3rd quarter. UBS Group AG now owns 4,033 shares of the technology company’s stock worth $49,000 after buying an additional 1,186 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

About Gogo

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.