Roth Mkm Cuts Gogo (NASDAQ:GOGO) Price Target to $13.00

Gogo (NASDAQ:GOGO) had its price target reduced by Roth Mkm from $15.50 to $13.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Gogo Price Performance

Gogo stock opened at $6.47 on Monday. The stock’s 50 day moving average is $7.75 and its 200 day moving average is $7.56. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The firm has a market cap of $813.79 million, a P/E ratio of 15.05 and a beta of 1.01. Gogo has a one year low of $6.17 and a one year high of $11.00.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The firm had revenue of $137.80 million for the quarter, compared to analyst estimates of $97.80 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The company’s revenue was up 40.9% compared to the same quarter last year. As a group, research analysts expect that Gogo will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Gogo

Several institutional investors have recently bought and sold shares of GOGO. Lazard Asset Management LLC bought a new position in Gogo in the 4th quarter valued at $43,000. State of Wyoming bought a new position in Gogo in the 4th quarter valued at $57,000. Teza Capital Management LLC bought a new position in Gogo in the 4th quarter valued at $110,000. Hsbc Holdings PLC bought a new position in Gogo in the 4th quarter valued at $116,000. Finally, Diametric Capital LP bought a new position in Gogo in the 4th quarter valued at $121,000. 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.