Gogo Inc. (NASDAQ:GOGO) Receives Average Recommendation of “Hold” from Analysts

Shares of Gogo Inc. (NASDAQ:GOGO) have been assigned an average rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $8.50.

A number of equities research analysts recently weighed in on the company. Roth Capital restated a “buy” rating on shares of Gogo in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Gogo from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Morgan Stanley lowered their target price on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. Finally, Zacks Research downgraded Gogo from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th.

Gogo Price Performance

Shares of GOGO opened at $2.70 on Tuesday. The company has a debt-to-equity ratio of 6.74, a quick ratio of 1.21 and a current ratio of 1.73. The company has a 50 day moving average price of $3.55 and a 200-day moving average price of $4.07. Gogo has a fifty-two week low of $2.64 and a fifty-two week high of $12.50. The stock has a market capitalization of $365.87 million, a PE ratio of 270.00 and a beta of 1.13.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $222.81 million for the quarter, compared to analysts’ expectations of $229.35 million. Gogo had a negative net margin of 0.09% and a positive return on equity of 22.55%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. Equities analysts predict that Gogo will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Gogo

A number of institutional investors have recently bought and sold shares of GOGO. Brighton Jones LLC increased its stake in Gogo by 69.6% during the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after purchasing an additional 6,978 shares in the last quarter. AQR Capital Management LLC raised its stake in Gogo by 43.4% in the 1st quarter. AQR Capital Management LLC now owns 47,219 shares of the technology company’s stock worth $407,000 after acquiring an additional 14,293 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Gogo by 6.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,205 shares of the technology company’s stock worth $338,000 after acquiring an additional 2,342 shares during the period. Millennium Management LLC grew its stake in Gogo by 439.5% during the 1st quarter. Millennium Management LLC now owns 709,003 shares of the technology company’s stock valued at $6,112,000 after purchasing an additional 577,575 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Gogo by 23.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 294,173 shares of the technology company’s stock valued at $2,536,000 after purchasing an additional 56,232 shares during the period. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.