Gogo Inc (NASDAQ:GOGO) has received a consensus rating of “Hold” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $8.38.
A number of research analysts have recently issued reports on GOGO shares. BidaskClub upgraded shares of Misonix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 3rd. Cowen reiterated an “outperform” rating and set a $187.00 price objective (up from $178.00) on shares of Union Pacific in a report on Thursday, April 18th. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. Roth Capital started coverage on shares of Gogo in a report on Monday, May 13th. They set a “buy” rating and a $10.00 price objective for the company. Finally, William Blair reiterated an “outperform” rating on shares of Assembly Biosciences in a report on Friday, May 10th.
Shares of NASDAQ GOGO traded down $0.05 during mid-day trading on Friday, reaching $4.54. 50,962 shares of the company’s stock traded hands, compared to its average volume of 1,282,621. The company has a market capitalization of $379.29 million, a PE ratio of -2.48 and a beta of 1.01. The business has a 50-day moving average of $4.56. Gogo has a 1-year low of $2.64 and a 1-year high of $7.82.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.31. The business had revenue of $199.55 million for the quarter, compared to analyst estimates of $198.00 million. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.34) earnings per share. As a group, analysts predict that Gogo will post -1.83 EPS for the current fiscal year.
In other news, Director Charles C. Townsend purchased 64,389 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $5.48 per share, for a total transaction of $352,851.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 36.20% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Elk Creek Partners LLC raised its position in Gogo by 8.7% in the first quarter. Elk Creek Partners LLC now owns 3,763,459 shares of the technology company’s stock worth $16,898,000 after acquiring an additional 302,573 shares during the period. North Peak Capital Management LLC raised its position in Gogo by 1,012.3% in the first quarter. North Peak Capital Management LLC now owns 2,780,647 shares of the technology company’s stock worth $12,485,000 after acquiring an additional 2,530,647 shares during the period. First Midwest Bank Trust Division raised its position in Gogo by 38.1% in the first quarter. First Midwest Bank Trust Division now owns 1,367,952 shares of the technology company’s stock worth $6,142,000 after acquiring an additional 377,630 shares during the period. New York State Common Retirement Fund raised its position in Gogo by 3.5% in the fourth quarter. New York State Common Retirement Fund now owns 929,468 shares of the technology company’s stock worth $2,779,000 after acquiring an additional 31,630 shares during the period. Finally, Hodges Capital Management Inc. raised its position in Gogo by 1,120.3% in the first quarter. Hodges Capital Management Inc. now owns 763,900 shares of the technology company’s stock worth $3,430,000 after acquiring an additional 701,300 shares during the period. Institutional investors and hedge funds own 59.12% of the company’s stock.
Gogo Company Profile
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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