Brokerages Set Gogo Inc. (GOGO) PT at $14.35

Gogo Inc. (NASDAQ:GOGO) has earned a consensus recommendation of “Buy” from the nine analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $14.35.

GOGO has been the subject of several analyst reports. Zacks Investment Research raised shares of Gogo from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. BidaskClub raised shares of Gogo from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. ValuEngine raised shares of Gogo from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Standpoint Research downgraded shares of Gogo from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Guggenheim reaffirmed a “buy” rating and set a $16.00 price objective on shares of Gogo in a report on Monday, October 9th.

Gogo (NASDAQ:GOGO) traded up $0.09 during trading on Friday, reaching $9.74. 661,114 shares of the company were exchanged, compared to its average volume of 1,022,815. Gogo has a fifty-two week low of $8.56 and a fifty-two week high of $14.76. The company has a quick ratio of 2.02, a current ratio of 2.20 and a debt-to-equity ratio of -6.40.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06). The company had revenue of $172.87 million for the quarter, compared to analyst estimates of $172.92 million. During the same period last year, the company earned ($0.42) EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. sell-side analysts forecast that Gogo will post -2.09 EPS for the current year.

In other news, insider Michael Small acquired 100,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $8.79 per share, for a total transaction of $879,000.00. Following the completion of the transaction, the insider now owns 398,224 shares of the company’s stock, valued at $3,500,388.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in GOGO. Principal Financial Group Inc. purchased a new position in shares of Gogo during the first quarter valued at about $114,000. Parkwood LLC increased its position in shares of Gogo by 16.2% during the second quarter. Parkwood LLC now owns 12,888 shares of the technology company’s stock valued at $149,000 after buying an additional 1,799 shares during the period. Legal & General Group Plc increased its position in shares of Gogo by 12.3% during the first quarter. Legal & General Group Plc now owns 14,770 shares of the technology company’s stock valued at $163,000 after buying an additional 1,612 shares during the period. Verition Fund Management LLC increased its position in shares of Gogo by 37.3% during the second quarter. Verition Fund Management LLC now owns 14,599 shares of the technology company’s stock valued at $168,000 after buying an additional 3,963 shares during the period. Finally, National Asset Management Inc. purchased a new position in shares of Gogo during the second quarter valued at about $172,000. Institutional investors own 65.92% of the company’s stock.

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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).

Analyst Recommendations for Gogo (NASDAQ:GOGO)

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