Several other research firms also recently commented on GOGO. Zacks Investment Research upgraded shares of Gogo from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Wednesday, August 7th. William Blair upgraded shares of Gogo from a “market perform” rating to an “outperform” rating in a research report on Friday, May 10th. Roth Capital initiated coverage on shares of Gogo in a research report on Monday, May 13th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Cowen upgraded shares of Gogo from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $4.25 to $7.00 in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.75.
Shares of Gogo stock opened at $4.41 on Tuesday. The company has a market cap of $427.13 million, a price-to-earnings ratio of -2.41 and a beta of 0.97. The firm’s 50 day moving average is $4.26. Gogo has a 1 year low of $2.64 and a 1 year high of $7.82.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.12. The company had revenue of $213.70 million for the quarter, compared to the consensus estimate of $199.62 million. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.47) earnings per share. As a group, analysts expect that Gogo will post -1.83 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. increased its stake in Gogo by 27.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 60,969 shares of the technology company’s stock valued at $243,000 after purchasing an additional 13,219 shares in the last quarter. Jane Street Group LLC bought a new stake in Gogo during the 2nd quarter valued at $170,000. D. E. Shaw & Co. Inc. increased its stake in Gogo by 30.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 654,260 shares of the technology company’s stock valued at $2,604,000 after purchasing an additional 153,003 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Gogo by 168.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 118,825 shares of the technology company’s stock valued at $473,000 after purchasing an additional 74,571 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Gogo during the 2nd quarter valued at $295,000. Institutional investors and hedge funds own 59.13% 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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