Shares of Gogo Inc (NASDAQ:GOGO) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.38.
Several brokerages have recently issued reports on GOGO. ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Thursday. BidaskClub upgraded shares of Gogo from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Zacks Investment Research raised shares of Gogo from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Thursday, October 31st. Finally, William Blair reissued a “buy” rating on shares of Gogo in a research note on Monday, September 23rd.
In related news, Director Hugh W. Jones purchased 50,000 shares of Gogo stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $3.98 per share, with a total value of $199,000.00. Following the purchase, the director now owns 50,000 shares of the company’s stock, valued at $199,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles C. Townsend bought 65,651 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were acquired at an average cost of $3.94 per share, for a total transaction of $258,664.94. The disclosure for this purchase can be found here. Insiders bought a total of 265,851 shares of company stock worth $1,101,013 over the last three months. Insiders own 41.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in GOGO. Kavar Capital Partners LLC purchased a new stake in Gogo during the 2nd quarter worth approximately $25,000. Aperio Group LLC purchased a new stake in Gogo during the 2nd quarter worth approximately $40,000. Coatue Management LLC purchased a new stake in Gogo during the 2nd quarter worth approximately $44,000. Walleye Trading Advisors LLC purchased a new stake in shares of Gogo in the 2nd quarter valued at approximately $44,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in shares of Gogo in the 1st quarter valued at approximately $73,000. 55.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ GOGO traded up $0.27 during trading hours on Thursday, hitting $6.57. The company’s stock had a trading volume of 108,349 shares, compared to its average volume of 1,398,900. The business has a 50-day simple moving average of $6.00 and a 200-day simple moving average of $5.01. The stock has a market cap of $546.91 million, a price-to-earnings ratio of -3.58 and a beta of 1.05. Gogo has a 12 month low of $2.64 and a 12 month high of $7.54.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.12. The company had revenue of $213.70 million during the quarter, compared to the consensus estimate of $199.62 million. During the same period in the prior year, the firm earned ($0.47) earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Gogo will post -1.82 earnings per share for the current fiscal year.
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).
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