Gogo Inc. (GOGO) Trading Up 13.4%
Gogo Inc. (NASDAQ:GOGO) was up 13.4% during trading on Thursday . The stock traded as high as $9.59 and last traded at $9.55, with a volume of 2,672,997 shares trading hands. The stock had previously closed at $8.42.
Several equities research analysts have recently commented on GOGO shares. Dougherty & Co upped their target price on Gogo from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, May 9th. Standpoint Research began coverage on Gogo in a research report on Thursday, June 23rd. They set a “buy” rating and a $14.00 price target on the stock. William Blair reissued a “buy” rating on shares of Gogo in a research report on Monday, June 6th. JPMorgan Chase & Co. dropped their price target on Gogo from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Zacks Investment Research lowered Gogo from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Gogo presently has a consensus rating of “Hold” and an average price target of $13.20.
The firm’s 50-day moving average is $8.54 and its 200-day moving average is $10.50. The firm’s market cap is $883.63 million.
Gogo (NASDAQ:GOGO) last released its earnings results on Thursday, August 4th. The company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.11. The firm earned $147.50 million during the quarter, compared to the consensus estimate of $141.46 million. During the same period in the prior year, the business earned ($0.32) earnings per share. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities research analysts predict that Gogo Inc. will post ($1.51) EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Whitebox Advisors LLC boosted its stake in Gogo by 26.9% in the fourth quarter. Whitebox Advisors LLC now owns 81,776 shares of the company’s stock valued at $1,456,000 after buying an additional 17,351 shares during the period. California State Teachers Retirement System boosted its stake in Gogo by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 104,072 shares of the company’s stock valued at $1,852,000 after buying an additional 1,768 shares during the period. New York State Common Retirement Fund boosted its stake in Gogo by 21.4% in the fourth quarter. New York State Common Retirement Fund now owns 280,565 shares of the company’s stock valued at $4,994,000 after buying an additional 49,519 shares during the period. Finally, Hodges Capital Management Inc. boosted its stake in Gogo by 13.4% in the fourth quarter. Hodges Capital Management Inc. now owns 1,950,115 shares of the company’s stock valued at $34,712,000 after buying an additional 230,640 shares during the period.
Gogo Inc is a holding company. The Company is a provider of in-flight connectivity and wireless entertainment solutions for the aviation industry across the world. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA).