Gogo Inc. (GOGO) Receives Average Recommendation of “Buy” from Analysts
Shares of Gogo Inc. (NASDAQ:GOGO) have been given an average rating of “Buy” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $14.35.
Several analysts have commented on the stock. Northland Securities assumed coverage on shares of Gogo in a report on Tuesday, September 19th. They set an “under perform” rating and a $6.75 target price on the stock. ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Gogo from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Guggenheim reiterated a “buy” rating and issued a $16.00 price objective on shares of Gogo in a report on Monday, October 9th. Finally, Zacks Investment Research upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th.
In other Gogo news, insider Michael Small acquired 100,000 shares of the stock in a transaction dated Monday, November 6th. The shares were bought at an average cost of $8.79 per share, for a total transaction of $879,000.00. Following the completion of the acquisition, the insider now directly owns 398,224 shares of the company’s stock, valued at $3,500,388.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 37.30% of the stock is owned by company insiders.
Shares of Gogo (GOGO) traded down $0.51 during mid-day trading on Thursday, reaching $10.64. 1,117,100 shares of the company’s stock traded hands, compared to its average volume of 1,043,383. The company has a debt-to-equity ratio of -6.40, a quick ratio of 2.02 and a current ratio of 2.20. Gogo has a 52-week low of $8.56 and a 52-week high of $14.76.
Gogo (NASDAQ:GOGO) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.06). The business had revenue of $172.87 million for the quarter, compared to analysts’ expectations of $172.92 million. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.42) EPS. analysts forecast that Gogo will post -2.11 EPS for the current year.
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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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