$168.35 Million in Sales Expected for Gogo Inc. (GOGO) This Quarter
Analysts expect that Gogo Inc. (NASDAQ:GOGO) will announce $168.35 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Gogo’s earnings, with estimates ranging from $159.92 million to $174.62 million. Gogo posted sales of $147.54 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.1%. The business is scheduled to issue its next quarterly earnings results before the market opens on Monday, August 7th.
According to Zacks, analysts expect that Gogo will report full year sales of $168.35 million for the current fiscal year, with estimates ranging from $675.01 million to $698.04 million. For the next financial year, analysts forecast that the company will post sales of $772.47 million per share, with estimates ranging from $725.58 million to $824.17 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Gogo.
Gogo (NASDAQ:GOGO) last posted its earnings results on Thursday, May 4th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.52). The firm had revenue of $165.41 million during the quarter, compared to analyst estimates of $160.04 million. During the same quarter in the prior year, the firm earned ($0.31) earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis.
Several equities research analysts recently weighed in on GOGO shares. Dougherty & Co increased their price target on Gogo from $16.00 to $17.50 and gave the stock a “buy” rating in a report on Monday, May 1st. Zacks Investment Research raised Gogo from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Wednesday, May 3rd. UBS AG reaffirmed a “buy” rating and set a $15.00 price target (up from $14.00) on shares of Gogo in a report on Friday, May 5th. Raymond James Financial, Inc. started coverage on Gogo in a report on Wednesday, May 31st. They set an “outperform” rating and a $15.00 price target for the company. Finally, ValuEngine raised Gogo from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.75.
Gogo (NASDAQ GOGO) opened at 11.84 on Friday. The firm’s market capitalization is $1.02 billion. Gogo has a 1-year low of $8.20 and a 1-year high of $13.69. The company has a 50 day moving average of $12.22 and a 200 day moving average of $10.97.
A number of large investors have recently added to or reduced their stakes in GOGO. Searle & CO. acquired a new stake in Gogo during the fourth quarter worth approximately $101,000. Guggenheim Capital LLC increased its stake in Gogo by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 11,623 shares of the technology company’s stock worth $107,000 after buying an additional 73 shares during the period. Arxis Securities LLC acquired a new stake in Gogo during the first quarter worth approximately $112,000. Principal Financial Group Inc. acquired a new stake in Gogo during the first quarter worth approximately $114,000. Finally, Parkwood LLC increased its stake in Gogo by 3.4% in the first quarter. Parkwood LLC now owns 11,089 shares of the technology company’s stock worth $122,000 after buying an additional 363 shares during the period. 64.62% of the stock is owned by institutional investors.
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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).
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