Roth Mkm Issues Pessimistic Forecast for Gogo (NASDAQ:GOGO) Stock Price

Gogo (NASDAQ:GOGO) had its price target lowered by equities research analysts at Roth Mkm from $15.50 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Roth Mkm’s price target indicates a potential upside of 87.59% from the company’s previous close.

Gogo Stock Up 7.1 %

NASDAQ:GOGO opened at $6.93 on Monday. The firm’s 50 day simple moving average is $7.74 and its 200 day simple 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. Gogo has a one year low of $6.17 and a one year high of $11.00. The company has a market cap of $871.65 million, a PE ratio of 16.12 and a beta of 1.01.

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

Insider Transactions at Gogo

In other news, Director Oakleigh Thorne purchased 30,173 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the transaction, the director now owns 711,341 shares of the company’s stock, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 26.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Gogo in the 4th quarter worth approximately $43,000. State of Wyoming acquired a new position in shares of Gogo in the 4th quarter worth approximately $57,000. Teza Capital Management LLC acquired a new position in shares of Gogo in the 4th quarter worth approximately $110,000. Hsbc Holdings PLC acquired a new position in shares of Gogo in the 4th quarter worth approximately $116,000. Finally, Diametric Capital LP acquired a new position in shares of Gogo in the 4th quarter worth approximately $121,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Company Profile

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.