Gogo Inc. (NASDAQ:GOGO) Receives Average Rating of “Moderate Buy” from Analysts

Gogo Inc. (NASDAQ:GOGO) has earned an average rating of “Moderate Buy” from the four ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.30.

Separately, Morgan Stanley cut their price target on Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 16th.

Institutional Investors Weigh In On Gogo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teza Capital Management LLC purchased a new stake in Gogo during the third quarter valued at about $158,000. Ballentine Partners LLC purchased a new stake in Gogo during the fourth quarter valued at about $140,000. Corton Capital Inc. grew its position in Gogo by 62.5% during the third quarter. Corton Capital Inc. now owns 17,400 shares of the technology company’s stock valued at $208,000 after acquiring an additional 6,695 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Gogo during the fourth quarter valued at about $203,000. Finally, State Board of Administration of Florida Retirement System grew its position in Gogo by 12.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock valued at $187,000 after acquiring an additional 2,390 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Stock Performance

Shares of Gogo stock opened at $9.62 on Friday. The company has a quick ratio of 3.33, a current ratio of 4.20 and a debt-to-equity ratio of 9.39. The firm has a market cap of $1.22 billion, a PE ratio of 8.22 and a beta of 1.05. Gogo has a 52 week low of $7.53 and a 52 week high of $17.94. The business’s fifty day simple moving average is $9.81 and its 200-day simple moving average is $9.31.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.10. The firm had revenue of $104.32 million for the quarter, compared to the consensus estimate of $96.62 million. Gogo had a return on equity of 229.65% and a net margin of 38.61%. Equities analysts forecast that Gogo will post 0.35 earnings per share for the current year.

Gogo Company Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.