Gogo Inc. (GOGO) Releases Earnings Results, Misses Estimates By $0.06 EPS
Gogo Inc. (NASDAQ:GOGO) posted its quarterly earnings data on Thursday. The technology company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06), Briefing.com reports. The firm had revenue of $172.87 million for the quarter, compared to analyst estimates of $172.92 million. Gogo’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.42) earnings per share.
Shares of Gogo (NASDAQ:GOGO) traded down $1.18 during mid-day trading on Friday, reaching $8.75. 3,271,757 shares of the company traded hands, compared to its average volume of 1,433,969. The company has a debt-to-equity ratio of -7.56, a quick ratio of 1.82 and a current ratio of 2.01.
A number of equities analysts have recently weighed in on GOGO shares. Guggenheim reissued a “buy” rating and issued a $16.00 price objective on shares of Gogo in a research report on Monday, October 9th. BidaskClub raised shares of Gogo from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. ValuEngine raised shares of Gogo from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Standpoint Research lowered shares of Gogo from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research raised shares of Gogo from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.35.
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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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