Gogo (GOGO) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Gogo (NASDAQ:GOGO) announced its earnings results on Monday. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.05, AnalystRatingsNetwork.com reports. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $94.58 million.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of Gogo from $28.00 to $23.00 in a research note on Tuesday, April 29th. They now have an “overweight” rating on the stock. Finally, analysts at Evercore Partners upgraded shares of Gogo from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, February 19th. They now have a $26.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Gogo presently has a consensus rating of “Hold” and an average target price of $25.00.
Shares of Gogo (NASDAQ:GOGO) opened at 11.93 on Monday. Gogo has a one year low of $1.417 and a one year high of $35.77. The stock has a 50-day moving average of $17.92 and a 200-day moving average of $22.09. The company’s market cap is $1.014 billion. Gogo also was the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 13,491,167 shares, a growth of 12.9% from the April 15th total of 11,952,420 shares. Based on an average daily trading volume, of 4,933,377 shares, the days-to-cover ratio is currently 2.7 days. Currently, 26.8% of the company’s shares are sold short.
Gogo Inc is a holding company. The Company operates through its two operating subsidiaries, Gogo LLC and Aircell Business Aviation Services LLC.
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