Roth Mkm Cuts Gogo (NASDAQ:GOGO) Price Target to $13.00

Gogo (NASDAQ:GOGO) had its target price cut by Roth Mkm from $15.50 to $13.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Gogo Stock Up 11.1 %

NASDAQ:GOGO opened at $7.70 on Monday. The firm has a market capitalization of $968.50 million, a price-to-earnings ratio of 17.91 and a beta of 1.01. Gogo has a twelve month low of $6.17 and a twelve month high of $11.00. The stock’s 50 day moving average price is $7.74 and its two-hundred day moving average price is $7.56. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.

Gogo (NASDAQ:GOGO) last posted its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $137.80 million for the quarter, compared to analyst estimates of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The firm’s revenue was up 40.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. Equities research analysts expect that Gogo will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the acquisition, the director now owns 711,341 shares of the company’s stock, valued at $4,673,510.37. The trade was a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GOGO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Gogo by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company’s stock valued at $298,000 after purchasing an additional 1,273 shares during the period. Nuveen Asset Management LLC boosted its stake in Gogo by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company’s stock valued at $1,807,000 after purchasing an additional 1,373 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Gogo by 0.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock valued at $1,496,000 after purchasing an additional 1,714 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Gogo by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock valued at $4,005,000 after purchasing an additional 3,181 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Gogo by 8.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company’s stock valued at $502,000 after purchasing an additional 5,078 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.

Gogo Company Profile

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.