William Blair Weighs in on Gogo Inc’s Q1 2018 Earnings (GOGO)
Gogo Inc (NASDAQ:GOGO) – Investment analysts at William Blair lowered their Q1 2018 EPS estimates for shares of Gogo in a research note issued on Monday. William Blair analyst L. Dipalma now expects that the technology company will post earnings of ($0.93) per share for the quarter, down from their prior forecast of ($0.43). William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Gogo’s Q2 2018 earnings at ($0.23) EPS, Q3 2018 earnings at ($0.83) EPS, Q4 2018 earnings at ($0.18) EPS, FY2018 earnings at ($2.16) EPS, Q1 2019 earnings at ($0.69) EPS, Q2 2019 earnings at ($0.10) EPS, Q3 2019 earnings at ($0.72) EPS, Q4 2019 earnings at ($0.07) EPS and FY2019 earnings at ($1.57) EPS.
Several other analysts have also commented on GOGO. ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. JPMorgan Chase & Co. lowered shares of Gogo from an “overweight” rating to a “neutral” rating in a research report on Friday, February 23rd. Finally, Guggenheim lowered shares of Gogo from a “buy” rating to a “neutral” rating and raised their price target for the company from $8.75 to $14.00 in a research report on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $13.80.
Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.04). The firm had revenue of $188.00 million for the quarter, compared to analysts’ expectations of $181.44 million. Gogo’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.34) EPS.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighPoint Advisor Group LLC purchased a new position in shares of Gogo in the fourth quarter worth about $115,000. MetLife Investment Advisors LLC purchased a new position in shares of Gogo in the fourth quarter worth about $309,000. Quad Capital Management Advisors LLC lifted its stake in shares of Gogo by 82.9% in the fourth quarter. Quad Capital Management Advisors LLC now owns 207,700 shares of the technology company’s stock worth $2,343,000 after buying an additional 94,122 shares in the last quarter. PEAK6 Investments L.P. lifted its stake in shares of Gogo by 1,198.0% in the fourth quarter. PEAK6 Investments L.P. now owns 115,290 shares of the technology company’s stock worth $1,300,000 after buying an additional 125,790 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Gogo in the fourth quarter worth about $115,000. Institutional investors and hedge funds own 77.65% of the company’s stock.
In related news, Director Charles C. Townsend bought 100,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were acquired at an average price of $9.32 per share, for a total transaction of $932,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.30% of the stock is owned by company insiders.
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Gogo Company Profile
Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company 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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