Gogo Inc. (NASDAQ:GOGO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Gogo Inc. (NASDAQ:GOGO) have received a consensus recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.8333.

GOGO has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Gogo in a research note on Monday, December 1st. Morgan Stanley started coverage on Gogo in a research report on Thursday, August 14th. They set an “equal weight” rating and a $15.00 price target on the stock. Finally, William Blair lowered Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday.

Hedge Funds Weigh In On Gogo

Several large investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in shares of Gogo in the second quarter worth about $1,018,000. William Blair Investment Management LLC lifted its holdings in Gogo by 124.8% in the 2nd quarter. William Blair Investment Management LLC now owns 5,673,833 shares of the technology company’s stock worth $83,292,000 after purchasing an additional 3,149,585 shares during the last quarter. Quantbot Technologies LP bought a new stake in Gogo during the second quarter worth approximately $2,684,000. Ancora Advisors LLC acquired a new position in Gogo during the first quarter valued at approximately $458,000. Finally, Select Equity Group L.P. grew its holdings in Gogo by 68.8% during the first quarter. Select Equity Group L.P. now owns 402,987 shares of the technology company’s stock valued at $3,474,000 after purchasing an additional 164,257 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Gogo Stock Performance

Shares of GOGO traded down $1.05 during trading hours on Tuesday, reaching $5.71. 5,793,386 shares of the company’s stock traded hands, compared to its average volume of 1,762,083. Gogo has a twelve month low of $5.20 and a twelve month high of $16.82. The business’s fifty day simple moving average is $8.14 and its two-hundred day simple moving average is $11.06. The company has a debt-to-equity ratio of 7.79, a current ratio of 1.74 and a quick ratio of 1.40. The firm has a market capitalization of $763.61 million, a price-to-earnings ratio of -112.86 and a beta of 0.90.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.12). The company had revenue of $223.59 million during the quarter, compared to analyst estimates of $222.23 million. Gogo had a positive return on equity of 71.74% and a negative net margin of 0.65%.The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 EPS. Analysts predict that Gogo will post 0.41 earnings per share for the current year.

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.