Gogo (NASDAQ:GOGO) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Gogo (NASDAQ:GOGO) from a hold rating to a buy rating in a research report report published on Thursday.

Separately, Roth Mkm cut their price objective on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday, March 17th.

Gogo Trading Up 5.7%

NASDAQ GOGO opened at $12.81 on Thursday. The company has a market capitalization of $1.69 billion, a PE ratio of 29.79 and a beta of 0.93. The company has a fifty day moving average of $8.49 and a 200 day moving average of $8.05. Gogo has a 1 year low of $6.17 and a 1 year high of $13.16. 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 (NASDAQ:GOGO) last posted its earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The company had revenue of $230.31 million during the quarter, compared to the consensus estimate of $214.93 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm’s quarterly revenue was up 120.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. Research analysts forecast that Gogo will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Gogo

In related news, Director Oakleigh Thorne bought 30,173 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $6.57 per share, with a total value of $198,236.61. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 25.78% of the stock is owned by corporate insiders.

Institutional Trading of Gogo

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Gogo by 532.9% during the first quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company’s stock worth $31,000 after purchasing an additional 3,027 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Gogo during the fourth quarter worth about $43,000. State of Wyoming purchased a new stake in shares of Gogo during the fourth quarter worth about $57,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Gogo during the first quarter worth about $111,000. Finally, Teza Capital Management LLC purchased a new stake in shares of Gogo during the fourth quarter worth about $110,000. Hedge funds and other institutional investors 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.