Gogo Inc. (NASDAQ:GOGO) Releases Earnings Results, Misses Estimates By $0.07 EPS
Gogo Inc. (NASDAQ:GOGO) released its quarterly earnings data on Monday. The technology company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.07, MarketWatch Earnings reports. The firm had revenue of $172.80 million for the quarter, compared to the consensus estimate of $167.63 million. During the same period in the prior year, the business earned ($0.31) EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year.
Shares of Gogo (NASDAQ GOGO) opened at 13.12 on Monday. The company’s market capitalization is $1.13 billion. The firm’s 50-day moving average is $11.81 and its 200 day moving average is $11.34. Gogo has a 12 month low of $8.28 and a 12 month high of $13.69.
A number of equities analysts have recently commented on the stock. UBS AG restated a “buy” rating and issued a $15.00 price objective (up from $14.00) on shares of Gogo in a research report on Friday, May 5th. Standpoint Research lowered shares of Gogo from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub upgraded shares of Gogo from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Dougherty & Co raised their price objective on shares of Gogo from $17.50 to $19.00 and gave the company a “buy” rating in a research report on Sunday, May 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $15.50.
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A number of large investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC raised 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 valued at $107,000 after buying an additional 73 shares in the last quarter. Arxis Securities LLC acquired a new position in Gogo during the first quarter valued at $112,000. Principal Financial Group Inc. acquired a new position in Gogo during the first quarter valued at $114,000. Parkwood LLC increased its position in Gogo by 3.4% in the first quarter. Parkwood LLC now owns 11,089 shares of the technology company’s stock valued at $122,000 after buying an additional 363 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its position in Gogo by 1.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,775 shares of the technology company’s stock valued at $141,000 after buying an additional 180 shares during the last quarter. 63.71% of the stock is owned by institutional investors.
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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