Gogo Inc. (NASDAQ:GOGO) Receives $14.83 Average Target Price from Analysts

Gogo Inc. (NASDAQ:GOGO) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $14.8333.

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a report on Monday, December 29th. William Blair cut shares of Gogo from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th.

Gogo Price Performance

GOGO stock opened at $4.95 on Friday. The firm has a market cap of $662.58 million, a P/E ratio of -99.00 and a beta of 0.96. The company has a debt-to-equity ratio of 7.79, a quick ratio of 1.40 and a current ratio of 1.74. Gogo has a 1 year low of $4.44 and a 1 year high of $16.82. The stock has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $10.10.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Thursday, November 6th. The technology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). Gogo had a positive return on equity of 71.74% and a negative net margin of 0.65%.The company had revenue of $223.59 million during the quarter, compared to analysts’ expectations of $222.23 million. During the same quarter in the prior year, the company earned $0.08 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. On average, equities analysts predict that Gogo will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gogo news, insider Oakleigh Thorne acquired 170,000 shares of the stock in a transaction on Friday, December 12th. The stock was purchased at an average price of $5.34 per share, for a total transaction of $907,800.00. Following the purchase, the insider directly owned 954,098 shares in the company, valued at $5,094,883.32. This trade represents a 21.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 25.78% of the company’s stock.

Hedge Funds Weigh In On Gogo

Several institutional investors and hedge funds have recently made changes to their positions in GOGO. Fortitude Family Office LLC bought a new stake in shares of Gogo in the third quarter worth $30,000. State of Wyoming acquired a new position in Gogo during the 3rd quarter worth $32,000. Quarry LP increased its position in shares of Gogo by 86.1% in the 3rd quarter. Quarry LP now owns 7,171 shares of the technology company’s stock worth $62,000 after purchasing an additional 3,318 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Gogo in the 3rd quarter worth about $72,000. Finally, USA Financial Formulas acquired a new stake in shares of Gogo in the 2nd quarter valued at about $76,000. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.