Equities analysts expect Gogo Inc (NASDAQ:GOGO) to post $181.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Gogo’s earnings, with the highest sales estimate coming in at $187.11 million and the lowest estimate coming in at $174.30 million. Gogo posted sales of $160.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.5%. The business is expected to report its next quarterly earnings results on Monday, February 26th.
According to Zacks, analysts expect that Gogo will report full-year sales of $181.65 million for the current year, with estimates ranging from $685.40 million to $698.19 million. For the next fiscal year, analysts forecast that the company will report sales of $774.82 million per share, with estimates ranging from $747.50 million to $819.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Gogo.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.57) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.06). The company had revenue of $172.87 million during the quarter, compared to the consensus estimate of $172.92 million. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.42) earnings per share.
GOGO has been the topic of several recent research reports. ValuEngine cut Gogo from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Guggenheim reaffirmed a “buy” rating and issued a $16.00 price target on shares of Gogo in a research note on Monday, October 9th. Zacks Investment Research raised Gogo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, BidaskClub cut Gogo from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.35.
Shares of Gogo (NASDAQ:GOGO) traded down $0.06 during mid-day trading on Friday, reaching $10.13. The company had a trading volume of 472,900 shares, compared to its average volume of 754,317. The stock has a market capitalization of $884.21, a PE ratio of -5.09 and a beta of 1.69. Gogo has a 12 month low of $8.56 and a 12 month high of $14.76. The company has a debt-to-equity ratio of -6.40, a quick ratio of 2.02 and a current ratio of 2.20.
In related news, insider Michael Small bought 100,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were acquired at an average cost of $8.79 per share, with a total value of $879,000.00. Following the completion of the acquisition, the insider now owns 398,224 shares of the company’s stock, valued at approximately $3,500,388.96. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 37.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in GOGO. Verition Fund Management LLC boosted its holdings in Gogo by 37.3% in the second quarter. Verition Fund Management LLC now owns 14,599 shares of the technology company’s stock worth $168,000 after acquiring an additional 3,963 shares in the last quarter. National Asset Management Inc. bought a new stake in Gogo in the second quarter worth $172,000. Legal & General Group Plc boosted its holdings in Gogo by 3.8% in the second quarter. Legal & General Group Plc now owns 15,326 shares of the technology company’s stock worth $178,000 after acquiring an additional 556 shares in the last quarter. Laurion Capital Management LP bought a new stake in Gogo in the second quarter worth $223,000. Finally, Premier Asset Management LLC bought a new stake in Gogo in the third quarter worth $232,000. 69.82% of the stock is currently owned by institutional investors and hedge funds.
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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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