Gogo (NASDAQ:GOGO) Posts Earnings Results, Beats Expectations By $0.29 EPS
Gogo (NASDAQ:GOGO) announced its quarterly earnings data on Thursday. The technology company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.29, Briefing.com reports. The business had revenue of $201.18 million during the quarter, compared to the consensus estimate of $206.07 million. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) EPS.
Shares of GOGO stock traded up $0.02 on Friday, hitting $6.50. The company’s stock had a trading volume of 2,653,900 shares, compared to its average volume of 1,622,084. The company has a market capitalization of $570.68 million, a PE ratio of -3.55 and a beta of 1.05. Gogo has a fifty-two week low of $2.64 and a fifty-two week high of $7.23. The stock’s 50 day moving average is $5.99 and its 200-day moving average is $5.03.
GOGO has been the topic of several research reports. ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded shares of Gogo from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Thursday, October 31st. William Blair restated a “buy” rating on shares of Gogo in a research note on Monday, September 23rd. Finally, BidaskClub upgraded shares of Gogo from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Gogo has a consensus rating of “Buy” and an average target price of $6.38.
Gogo Company Profile
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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