Brokerages Set Gogo Inc. (NASDAQ:GOGO) PT at $15.30

Gogo Inc. (NASDAQ:GOGOGet Free Report) has been given an average recommendation of “Moderate Buy” by the four analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $15.30.

A number of research firms have commented on GOGO. Morgan Stanley lowered their target price on shares of Gogo from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, April 16th. JPMorgan Chase & Co. initiated coverage on shares of Gogo in a report on Thursday, February 29th. They set a “neutral” rating and a $11.00 target price for the company.

Check Out Our Latest Report on GOGO

Insider Activity

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

Hedge Funds Weigh In On Gogo

Large investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new position in Gogo during the 1st quarter worth about $29,000. Great West Life Assurance Co. Can boosted its stake in shares of Gogo by 41.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company’s stock worth $44,000 after buying an additional 633 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Gogo by 432.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,609 shares of the technology company’s stock worth $39,000 after buying an additional 2,119 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Gogo by 76.6% during the 3rd quarter. Royal Bank of Canada now owns 3,069 shares of the technology company’s stock worth $37,000 after buying an additional 1,331 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Gogo by 41.7% during the 3rd quarter. UBS Group AG now owns 4,033 shares of the technology company’s stock worth $49,000 after buying an additional 1,186 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Gogo Price Performance

GOGO opened at $8.35 on Tuesday. The company has a fifty day moving average price of $8.74 and a two-hundred day moving average price of $9.65. The company has a debt-to-equity ratio of 14.43, a quick ratio of 3.49 and a current ratio of 4.37. Gogo has a 52 week low of $7.53 and a 52 week high of $17.94. The firm has a market capitalization of $1.07 billion, a PE ratio of 7.66 and a beta of 1.08.

Gogo (NASDAQ:GOGOGet Free Report) last released its earnings results on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. The firm had revenue of $97.81 million during the quarter, compared to analyst estimates of $96.56 million. During the same quarter in the previous year, the business earned $0.21 EPS. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, analysts anticipate that Gogo will post 0.36 earnings per share for the current year.

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 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.

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