Gogo Inc. (NASDAQ:GOGO) Given Consensus Rating of “Hold” by Brokerages

Shares of Gogo Inc. (NASDAQ:GOGO) have been given an average rating of “Hold” by the five research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.50.

A number of brokerages have weighed in on GOGO. Weiss Ratings upgraded Gogo from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Morgan Stanley reduced their target price on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Wall Street Zen lowered shares of Gogo from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research cut shares of Gogo from a “hold” rating to a “strong sell” rating in a research report on Friday. Finally, Roth Capital reissued a “buy” rating on shares of Gogo in a report on Friday.

Institutional Trading of Gogo

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Gogo in the 4th quarter worth approximately $27,000. PNC Financial Services Group Inc. increased its holdings in Gogo by 310.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,318 shares of the technology company’s stock valued at $29,000 after purchasing an additional 5,536 shares in the last quarter. State of Wyoming acquired a new stake in Gogo during the 1st quarter valued at $34,000. Farther Finance Advisors LLC raised its position in Gogo by 91,500.0% in the 4th quarter. Farther Finance Advisors LLC now owns 10,076 shares of the technology company’s stock valued at $47,000 after purchasing an additional 10,065 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Gogo in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Stock Performance

NASDAQ:GOGO opened at $3.19 on Tuesday. Gogo has a 12-month low of $3.02 and a 12-month high of $13.13. The company has a quick ratio of 1.21, a current ratio of 1.73 and a debt-to-equity ratio of 6.74. The firm has a market capitalization of $431.42 million, a PE ratio of 319.00 and a beta of 1.13. The firm has a 50-day moving average price of $3.66 and a 200 day moving average price of $4.14.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Gogo had a negative net margin of 0.09% and a positive return on equity of 22.55%. The company had revenue of $222.81 million for the quarter, compared to analyst estimates of $229.35 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts anticipate that Gogo will post 0.14 earnings per share for the current fiscal year.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.