Gogo (NASDAQ:GOGO) Stock Rating Reaffirmed by Roth Mkm

Gogo (NASDAQ:GOGO)‘s stock had its “buy” rating restated by equities researchers at Roth Mkm in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $15.50 target price on the technology company’s stock. Roth Mkm’s target price would suggest a potential upside of 128.61% from the stock’s previous close.

A number of other equities research analysts have also weighed in on GOGO. JPMorgan Chase & Co. decreased their price objective on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Morgan Stanley decreased their price target on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd.

Gogo Trading Down 2.2 %

GOGO opened at $6.78 on Tuesday. The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95. The stock’s 50 day moving average price is $8.14 and its 200-day moving average price is $8.91. Gogo has a one year low of $6.72 and a one year high of $12.75. The stock has a market cap of $861.77 million, a price-to-earnings ratio of 5.79 and a beta of 1.11.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a net margin of 16.59% and a return on equity of 145.01%. The business had revenue of $102.10 million during the quarter, compared to the consensus estimate of $99.02 million. During the same period last year, the company earned $0.20 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that Gogo will post 0.35 EPS for the current year.

Institutional Trading of Gogo

Several institutional investors and hedge funds have recently made changes to their positions in GOGO. Vanguard Group Inc. increased its position in Gogo by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,748,287 shares of the technology company’s stock valued at $50,470,000 after purchasing an additional 44,340 shares during the period. Burgundy Asset Management Ltd. increased its holdings in Gogo by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock valued at $29,901,000 after buying an additional 43,805 shares during the period. Capco Asset Management LLC increased its holdings in Gogo by 1.7% during the second quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock valued at $23,857,000 after buying an additional 41,866 shares during the period. William Blair Investment Management LLC raised its stake in Gogo by 7.9% in the second quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock worth $19,949,000 after buying an additional 152,338 shares in the last quarter. Finally, LB Partners LLC lifted its holdings in Gogo by 31.0% during the first quarter. LB Partners LLC now owns 1,895,606 shares of the technology company’s stock worth $16,643,000 after buying an additional 448,918 shares during the period. 69.60% of the stock is currently owned by institutional investors.

Gogo Company Profile

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.