Gogo Inc. (NASDAQ:GOGO – Free Report) has received a consensus recommendation of “Moderate Buy” from the four brokerages that cover the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation for the company. The average 1-year price target among the brokerages that have covered the stock in the last year is $15.38.
Several research analysts have recently commented on GOGO shares. Morgan Stanley lowered their price target on Gogo from $15.00 to $12.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16. JPMorgan Chase & Co. lowered their price target on Gogo from $11.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday.
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Gogo trading down 1.4%
NASDAQ GOGO opened at $7.63 on Thursday. The company has a quick ratio of 3.33, a current ratio of 4.20 and a debt-to-equity ratio of 9.39. Gogo has a twelve-month low of $7.38 and a twelve-month high of $12.95. The company has a market cap of $969.81 million, a P/E ratio of 6.52 and a beta of 1.13. The stock’s 50-day moving average is $9.31 and its 200-day moving average is $9.23.
Gogo (NASDAQ:GOGO – Get Free Report) last announced its quarterly results on Wednesday, August 7. The technology company reported earnings per share (EPS) of $0.01 for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $102.10 million for the quarter, compared to analyst expectations of $99.02 million. Gogo had a net margin of 38.61% and a return on equity of 229.65%. The company’s quarterly revenue declined 1.1% compared to the year-ago quarter. In the year-ago quarter, the company reported earnings per share of $0.20. Research analysts forecast that Gogo will report earnings per share of $0.35 for the current fiscal year.
Institutional trading with Gogo
Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Gogo in the 2nd quarter valued at approximately $109,000. Ballentine Partners LLC acquired a new position in Gogo in the 4th quarter valued at approximately $140,000. Zürcher Kantonalbank Zürich Cantonalbank increased its holdings in Gogo by 67.1% in the 2nd quarter. Zürcher Kantonalbank Zürich Cantonalbank now owns 17,285 shares of the technology company’s stock valued at $166,000 after purchasing an additional 6,941 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Gogo by 12.6% in the 1st quarter. The State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock valued at $187,000 after purchasing an additional 2,390 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Gogo in the 4th quarter valued at around $203,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.
Gogo company profile
(Get free report
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 onboard equipment and software. It provides onboard systems, onboard services, aviation partner support, and engineering, design and development services, as well as production operations functions.
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