Gogo Inc. (NASDAQ:GOGO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Gogo Inc. (NASDAQ:GOGO) have been given an average rating of “Moderate Buy” by the four ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $15.30.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Gogo in a research report on Thursday, February 29th. They issued a “neutral” rating and a $11.00 target price on the stock. Morgan Stanley cut their target price on Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 16th.

Gogo Stock Performance

Shares of GOGO opened at $8.32 on Tuesday. Gogo has a 12 month low of $7.53 and a 12 month high of $17.94. The stock has a fifty day moving average price of $8.70 and a 200-day moving average price of $9.60. 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 firm has a market cap of $1.07 billion, a PE ratio of 7.63 and a beta of 1.08.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $96.56 million. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities research analysts predict that Gogo will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Gogo

Several hedge funds have recently modified their holdings of GOGO. Laurus Investment Counsel Inc. boosted its stake in shares of Gogo by 86.6% during the 3rd quarter. Laurus Investment Counsel Inc. now owns 213,460 shares of the technology company’s stock worth $2,547,000 after acquiring an additional 99,055 shares in the last quarter. SG Americas Securities LLC purchased a new position in Gogo in the 3rd quarter valued at about $177,000. Harbor Capital Advisors Inc. lifted its stake in Gogo by 30.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 47,488 shares of the technology company’s stock valued at $567,000 after buying an additional 11,173 shares in the last quarter. Deltec Asset Management LLC purchased a new position in Gogo in the 3rd quarter valued at about $358,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Gogo by 52.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,344 shares of the technology company’s stock valued at $123,000 after buying an additional 3,574 shares in the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

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.