Gogo (NASDAQ:GOGO) Stock Price Up 10.9% – Still a Buy?

Gogo Inc. (NASDAQ:GOGO) shares traded up 10.9% during trading on Monday . The company traded as high as $4.52 and last traded at $4.6920. 152,891 shares changed hands during trading, a decline of 92% from the average session volume of 1,930,954 shares. The stock had previously closed at $4.23.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOGO shares. William Blair cut Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Gogo in a research report on Monday, December 29th. Finally, Morgan Stanley set a $8.00 target price on shares of Gogo in a research note on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.25.

Gogo Price Performance

The stock has a market capitalization of $663.97 million, a price-to-earnings ratio of 49.30 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.60 and a debt-to-equity ratio of 8.24. The business has a 50-day simple moving average of $4.57 and a two-hundred day simple moving average of $7.10.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Friday, February 27th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). The firm had revenue of $230.56 million for the quarter, compared to analyst estimates of $222.65 million. Gogo had a net margin of 1.42% and a return on equity of 55.95%. The firm’s revenue for the quarter was up 67.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.22) earnings per share. As a group, research analysts predict that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gogo news, insider Oakleigh Thorne purchased 170,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was bought at an average cost 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. The trade was a 21.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 25.78% of the company’s stock.

Institutional Trading of Gogo

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOGO. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gogo during the 4th quarter valued at $27,000. Fortitude Family Office LLC purchased a new stake in Gogo during the third quarter valued at about $30,000. State of Wyoming acquired a new position in shares of Gogo in the third quarter worth about $32,000. Farther Finance Advisors LLC increased its position in shares of Gogo by 91,500.0% in the fourth quarter. Farther Finance Advisors LLC now owns 10,076 shares of the technology company’s stock worth $47,000 after acquiring an additional 10,065 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Gogo in the fourth quarter worth approximately $52,000. 69.60% of the stock is owned by institutional investors and hedge funds.

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.