Gogo Inc. (NASDAQ:GOGO) Receives $15.30 Consensus Price Target from Brokerages

Gogo Inc. (NASDAQ:GOGO) has earned an average recommendation of “Moderate Buy” from the four ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $15.30.

Separately, Morgan Stanley cut their price objective on shares of Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 16th.

Gogo Trading Up 4.8 %

Shares of GOGO stock opened at $9.84 on Friday. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 8.41 and a beta of 1.13. The company has a current ratio of 4.20, a quick ratio of 3.33 and a debt-to-equity ratio of 9.39. The firm has a 50-day moving average price of $9.86 and a 200 day moving average price of $9.30. Gogo has a twelve month low of $7.53 and a twelve month high of $17.94.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. Gogo had a net margin of 38.61% and a return on equity of 229.65%. The business had revenue of $104.32 million during the quarter, compared to the consensus estimate of $96.62 million. Research analysts forecast that Gogo will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Gogo

Hedge funds have recently made changes to their positions in the company. Burgundy Asset Management Ltd. boosted its holdings in Gogo by 20.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,399,618 shares of the technology company’s stock valued at $24,308,000 after purchasing an additional 400,487 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Gogo during the 4th quarter valued at approximately $256,000. Teza Capital Management LLC purchased a new position in shares of Gogo during the 3rd quarter valued at approximately $158,000. LB Partners LLC acquired a new stake in shares of Gogo during the fourth quarter worth approximately $14,655,000. Finally, Ballentine Partners LLC bought a new stake in shares of Gogo in the fourth quarter worth $140,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

About Gogo

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.