$98.90 Million in Sales Expected for Gogo Inc (NASDAQ:GOGO) This Quarter

Wall Street brokerages expect that Gogo Inc (NASDAQ:GOGO) will post $98.90 million in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Gogo’s earnings. The lowest sales estimate is $76.10 million and the highest is $120.51 million. Gogo reported sales of $213.69 million during the same quarter last year, which indicates a negative year over year growth rate of 53.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 13th.

According to Zacks, analysts expect that Gogo will report full year sales of $553.36 million for the current financial year, with estimates ranging from $501.10 million to $623.71 million. For the next fiscal year, analysts expect that the firm will report sales of $738.34 million, with estimates ranging from $676.75 million to $780.56 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Gogo.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Monday, May 11th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.10). The business had revenue of $184.50 million for the quarter, compared to analyst estimates of $167.44 million. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) earnings per share.

A number of analysts have recently commented on GOGO shares. Zacks Investment Research cut Gogo from a “hold” rating to a “sell” rating in a research report on Tuesday, June 23rd. Morgan Stanley cut their target price on Gogo from $3.00 to $1.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 24th. Northland Securities began coverage on Gogo in a research report on Friday, June 12th. They issued a “hold” rating and a $2.00 price target for the company. Finally, ValuEngine raised shares of Gogo from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $3.08.

In related news, Director Charles C. Townsend bought 22,610 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $1.60 per share, with a total value of $36,176.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 40.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in Gogo by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 334,997 shares of the technology company’s stock worth $2,144,000 after acquiring an additional 3,877 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Gogo in the 4th quarter worth approximately $29,000. Swiss National Bank grew its position in Gogo by 5.6% during the 4th quarter. Swiss National Bank now owns 109,500 shares of the technology company’s stock worth $701,000 after purchasing an additional 5,800 shares during the last quarter. Cito Capital Group LLC increased its stake in Gogo by 7.5% during the 4th quarter. Cito Capital Group LLC now owns 129,000 shares of the technology company’s stock valued at $826,000 after purchasing an additional 9,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Gogo by 3.5% during the first quarter. BNP Paribas Arbitrage SA now owns 268,097 shares of the technology company’s stock worth $568,000 after buying an additional 9,108 shares during the period. Institutional investors own 54.78% of the company’s stock.

Shares of GOGO stock opened at $2.77 on Wednesday. Gogo has a twelve month low of $1.33 and a twelve month high of $7.23. The business’s fifty day moving average is $2.46 and its 200 day moving average is $3.55.

About Gogo

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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Earnings History and Estimates for Gogo (NASDAQ:GOGO)

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