Gogo Inc (GOGO) Receives Consensus Rating of “Hold” from Analysts

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Gogo Inc (NASDAQ:GOGO) has earned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $6.17.

GOGO has been the subject of several recent research reports. Morgan Stanley reiterated a “sell” rating on shares of Gogo in a research note on Tuesday, March 6th. Northland Securities decreased their price objective on Gogo from $3.50 to $1.50 and set an “under perform” rating for the company in a research note on Friday, May 18th. BidaskClub cut Gogo from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 4th. UBS Group cut Gogo from a “buy” rating to a “neutral” rating in a research note on Monday, May 21st. Finally, Guggenheim cut Gogo from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $8.75 to $14.00 in a research note on Wednesday, March 7th.

In other Gogo news, Director Charles C. Townsend bought 359,267 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The stock was purchased at an average price of $4.98 per share, for a total transaction of $1,789,149.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Thorndale Farm, Inc. bought 146,915 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The shares were acquired at an average price of $5.08 per share, with a total value of $746,328.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 844,444 shares of company stock valued at $4,324,637. 36.20% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP purchased a new stake in Gogo in the fourth quarter valued at approximately $1,092,000. Teacher Retirement System of Texas purchased a new stake in Gogo in the fourth quarter valued at approximately $214,000. Geode Capital Management LLC lifted its stake in Gogo by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 569,014 shares of the technology company’s stock valued at $6,418,000 after buying an additional 15,502 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in Gogo in the fourth quarter valued at approximately $309,000. Finally, Pinnacle Associates Ltd. purchased a new stake in Gogo in the fourth quarter valued at approximately $127,000. Hedge funds and other institutional investors own 74.25% of the company’s stock.

Shares of Gogo traded down $0.21, hitting $4.89, during midday trading on Monday, according to MarketBeat Ratings. The company had a trading volume of 67,825 shares, compared to its average volume of 1,669,078. The company has a debt-to-equity ratio of -5.26, a quick ratio of 1.69 and a current ratio of 2.30. The stock has a market capitalization of $443.72 million, a PE ratio of -2.26 and a beta of 1.30. Gogo has a 1 year low of $4.55 and a 1 year high of $14.76.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Friday, May 4th. The technology company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.24. The company had revenue of $231.83 million during the quarter, compared to analysts’ expectations of $221.48 million. The business’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.52) EPS. analysts predict that Gogo will post -2.21 EPS for the current year.

Gogo Company Profile

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).

Analyst Recommendations for Gogo (NASDAQ:GOGO)

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