Gogo Inc. (NASDAQ:GOGO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Gogo Inc. (NASDAQ:GOGO) have been given an average recommendation of “Moderate Buy” by the four analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $15.30.

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Gogo in a research note on Thursday, February 29th. They set a “neutral” rating and a $11.00 price target for the company. Morgan Stanley dropped their price target on Gogo from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday.

Insider Activity at Gogo

In other Gogo news, Director Harris N. Williams purchased 12,000 shares of Gogo stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the acquisition, the director now directly owns 20,990 shares in the company, valued at $170,019. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Harris N. Williams bought 12,000 shares of Gogo stock in a transaction on Thursday, February 29th. The shares were purchased at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the acquisition, the director now owns 20,990 shares of the company’s stock, valued at $170,019. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles C. Townsend bought 28,857 shares of Gogo stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $9.03 per share, for a total transaction of $260,578.71. Following the acquisition, the director now directly owns 1,740,588 shares in the company, valued at approximately $15,717,509.64. The disclosure for this purchase can be found here. 26.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GOGO. Belpointe Asset Management LLC purchased a new position in shares of Gogo during the 1st quarter worth approximately $29,000. Royal Bank of Canada grew its holdings in shares of Gogo by 76.6% during the 3rd quarter. Royal Bank of Canada now owns 3,069 shares of the technology company’s stock worth $37,000 after acquiring an additional 1,331 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Gogo by 432.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,609 shares of the technology company’s stock worth $39,000 after acquiring an additional 2,119 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Gogo by 41.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company’s stock worth $44,000 after purchasing an additional 633 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Gogo by 41.7% in the 3rd quarter. UBS Group AG now owns 4,033 shares of the technology company’s stock worth $49,000 after purchasing an additional 1,186 shares in the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Price Performance

NASDAQ:GOGO remained flat at $8.12 during trading hours on Tuesday. The company had a trading volume of 1,317,397 shares, compared to its average volume of 941,629. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 7.45 and a beta of 1.08. Gogo has a 12 month low of $7.53 and a 12 month high of $17.94. The company has a 50 day moving average of $8.86 and a two-hundred day moving average of $9.72. The company has a current ratio of 4.37, a quick ratio of 3.49 and a debt-to-equity ratio of 14.43.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $97.81 million during the quarter, compared to analyst estimates of $96.56 million. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. On average, analysts expect that Gogo will post 0.38 EPS for the current year.

About Gogo

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.