Gogo Inc. (NASDAQ:GOGO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Gogo Inc. (NASDAQ:GOGO) have received a consensus rating of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $14.8333.

GOGO has been the topic of a number of recent analyst reports. William Blair cut Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a research report on Monday.

Insider Activity

In related news, insider Oakleigh Thorne purchased 170,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were bought at an average price of $5.34 per share, with a total value of $907,800.00. Following the acquisition, the insider owned 954,098 shares of the company’s stock, valued at $5,094,883.32. This trade represents a 21.68% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 25.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gogo

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Gogo in the third quarter worth $30,000. State of Wyoming bought a new stake in Gogo during the third quarter valued at $32,000. Quarry LP grew its position in Gogo by 86.1% during the third quarter. Quarry LP now owns 7,171 shares of the technology company’s stock worth $62,000 after buying an additional 3,318 shares in the last quarter. Focus Partners Wealth bought a new position in Gogo in the 3rd quarter worth about $72,000. Finally, USA Financial Formulas purchased a new stake in shares of Gogo in the 2nd quarter valued at about $76,000. 69.60% of the stock is owned by institutional investors.

Gogo Stock Performance

GOGO stock opened at $4.76 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 7.79. The firm has a market cap of $637.15 million, a PE ratio of -95.20 and a beta of 0.89. The business has a 50 day moving average of $6.54 and a 200-day moving average of $10.21. Gogo has a 12-month low of $4.44 and a 12-month high of $16.82.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.12). Gogo had a positive return on equity of 71.74% and a negative net margin of 0.65%.The business had revenue of $223.59 million during the quarter, compared to analysts’ expectations of $222.23 million. During the same period in the prior year, the firm posted $0.08 EPS. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, sell-side analysts expect that Gogo will post 0.41 earnings per share for the current year.

About Gogo

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.