Gogo Inc. (NASDAQ:GOGO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Gogo Inc. (NASDAQ:GOGO) have received an average recommendation of “Moderate Buy” from the four research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $15.30.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Gogo in a research note on Thursday, February 29th. They set a “neutral” rating and a $11.00 price target for the company. Morgan Stanley decreased their price target on Gogo from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 16th.

Gogo Stock Performance

Shares of GOGO stock opened at $8.35 on Tuesday. Gogo has a 12-month low of $7.53 and a 12-month high of $17.94. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 7.66 and a beta of 1.08. The business has a 50 day simple moving average of $8.74 and a 200 day simple moving average of $9.65. The company has a debt-to-equity ratio of 14.43, a current ratio of 4.37 and a quick ratio of 3.49.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $97.81 million during the quarter, compared to analyst estimates of $96.56 million. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. On average, equities research analysts anticipate that Gogo will post 0.36 EPS for the current year.

Insider Transactions at Gogo

In related news, Director Charles C. Townsend acquired 28,857 shares of Gogo stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $9.03 per share, with a total value of $260,578.71. Following the purchase, the director now directly owns 1,740,588 shares in the company, valued at approximately $15,717,509.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Charles C. Townsend acquired 28,857 shares of Gogo stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $9.03 per share, with a total value of $260,578.71. Following the purchase, the director now directly owns 1,740,588 shares in the company, valued at approximately $15,717,509.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Harris N. Williams acquired 12,000 shares of Gogo stock in a transaction dated Thursday, February 29th. The shares were bought at an average cost of $8.10 per share, with a total value of $97,200.00. Following the completion of the purchase, the director now owns 20,990 shares in the company, valued at $170,019. The disclosure for this purchase can be found here. Corporate insiders own 26.00% of the company’s stock.

Institutional Trading of Gogo

A number of hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can lifted its holdings in shares of Gogo by 41.0% in the first quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company’s stock valued at $44,000 after purchasing an additional 633 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Gogo by 1.1% in the third quarter. Thrivent Financial for Lutherans now owns 67,844 shares of the technology company’s stock valued at $822,000 after purchasing an additional 721 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Gogo by 7.5% in the third quarter. AQR Capital Management LLC now owns 14,913 shares of the technology company’s stock valued at $178,000 after purchasing an additional 1,035 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Gogo by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,731 shares of the technology company’s stock valued at $443,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Gogo by 5.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 22,437 shares of the technology company’s stock valued at $382,000 after purchasing an additional 1,152 shares in the last quarter. 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.