Gogo Inc. (NASDAQ:GOGO) Expected to Post Quarterly Sales of $168.24 Million
Wall Street analysts predict that Gogo Inc. (NASDAQ:GOGO) will post sales of $168.24 million for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Gogo’s earnings, with the lowest sales estimate coming in at $159.92 million and the highest estimate coming in at $174.62 million. Gogo reported sales of $147.54 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14%. The firm is scheduled to report its next earnings results before the market opens on Monday, August 7th.
According to Zacks, analysts expect that Gogo will report full-year sales of $168.24 million for the current financial year, with estimates ranging from $675.01 million to $698.04 million. For the next year, analysts expect that the firm will post sales of $773.07 million per share, with estimates ranging from $725.58 million to $824.17 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Gogo.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.52) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.52). The business had revenue of $165.41 million during the quarter, compared to analysts’ expectations of $160.04 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. Gogo’s revenue for the quarter was up 16.7% on a year-over-year basis.
A number of brokerages recently commented on GOGO. Zacks Investment Research upgraded shares of Gogo from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, May 3rd. Dougherty & Co raised their price objective on shares of Gogo from $16.00 to $17.50 and gave the company a “buy” rating in a research report on Monday, May 1st. ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Raymond James Financial, Inc. began coverage on shares of Gogo in a research report on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, BidaskClub downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Gogo has an average rating of “Buy” and an average target price of $15.50.
Large investors have recently made changes to their positions in the stock. Arxis Securities LLC purchased a new stake in shares of Gogo during the first quarter worth approximately $112,000. Principal Financial Group Inc. purchased a new stake in shares of Gogo during the first quarter worth approximately $114,000. Parkwood LLC increased its stake in shares of 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 last quarter. Guggenheim Capital LLC increased its stake in shares of 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 last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of Gogo by 1.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,775 shares of the technology company’s stock worth $141,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 63.71% of the company’s stock.
Gogo (GOGO) opened at 13.12 on Monday. The company has a 50 day moving average price of $11.81 and a 200 day moving average price of $11.34. Gogo has a 52 week low of $8.28 and a 52 week high of $13.69. The stock’s market cap is $1.13 billion.
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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