Gogo Inc. (NASDAQ:GOGO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Gogo Inc. (NASDAQ:GOGO) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $14.8333.

GOGO has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a research report on Monday, December 8th. William Blair downgraded Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th.

Gogo Price Performance

Shares of GOGO stock opened at $4.91 on Tuesday. The company has a market capitalization of $657.20 million, a P/E ratio of -98.20 and a beta of 0.90. The company’s 50-day simple moving average is $7.81 and its two-hundred day simple moving average is $10.86. Gogo has a one year low of $4.89 and a one year high of $16.82. The company has a debt-to-equity ratio of 7.79, a current ratio of 1.74 and a quick ratio of 1.40.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings results 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 negative net margin of 0.65% and a positive return on equity of 71.74%. The company had revenue of $223.59 million for the quarter, compared to the consensus estimate of $222.23 million. During the same period in the prior year, the firm posted $0.08 EPS. The business’s revenue was up 122.4% on a year-over-year basis. As a group, equities analysts anticipate that Gogo will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Gogo

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

About Gogo

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.