Gogo Inc. (NASDAQ:GOGO) Given Average Rating of “Moderate Buy” by Analysts

Gogo Inc. (NASDAQ:GOGO) has earned an average recommendation of “Moderate Buy” from the four research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $15.30.

Several analysts recently commented on the company. Morgan Stanley cut their price objective on 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. assumed coverage on Gogo in a report on Thursday, February 29th. They issued a “neutral” rating and a $11.00 price objective for the company.

Insider Activity at Gogo

In related news, Director Charles C. Townsend bought 28,857 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the transaction, the director now owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Charles C. Townsend bought 28,857 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the transaction, the director now owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harris N. Williams bought 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the completion of the transaction, the director now directly owns 20,990 shares of the company’s stock, 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

Several large investors have recently made changes to their positions in GOGO. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Gogo by 52.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,344 shares of the technology company’s stock valued at $123,000 after acquiring an additional 3,574 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Gogo in the fourth quarter valued at about $140,000. Teza Capital Management LLC purchased a new position in shares of Gogo in the third quarter valued at about $158,000. SG Americas Securities LLC purchased a new position in shares of Gogo in the third quarter valued at about $177,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Gogo in the fourth quarter valued at about $203,000. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Gogo Stock Down 0.4 %

Gogo stock opened at $8.32 on Tuesday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 7.63 and a beta of 1.08. The stock has a fifty day simple moving average of $8.70 and a two-hundred day simple moving average of $9.60. Gogo has a 12 month low of $7.53 and a 12 month high of $17.94. The company has a current ratio of 4.37, a quick ratio of 3.49 and a debt-to-equity ratio of 14.43.

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

About Gogo

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.