Bango (LON:BGO) Stock Price Up 18.5% - Should You Buy?

Key Points

• Bango PLC's share price surged 18.5%, reaching GBX 121.75 during trading, significantly up from its previous close of GBX 97.50.
• Canaccord Genuity reiterated a "buy" rating" for Bango, setting a target price of GBX 244, reflecting a positive outlook from analysts.
• Insider purchases included 1,978 shares acquired by Paul Larbey and Matt Wilson at prices around GBX 91 and GBX 97, indicating some confidence from company insiders.

Bango PLC (LON:BGO - Get Free Report)'s share price was up 18.5% during trading on Friday . The stock traded as high as GBX 121.75 ($1.66) and last traded at GBX 115.50 ($1.58). Approximately 299,171 shares traded hands during trading, an increase of 169% from the average daily volume of 111,306 shares. The stock had previously closed at GBX 97.50 ($1.33).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a "buy" rating and set a GBX 244 target price on shares of Bango in a research note on Monday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of GBX 244.

Bango Stock Performance

The company has a current ratio of 0.71, a quick ratio of 2.37 and a debt-to-equity ratio of 37.64. The firm has a market capitalization of £98.34 million, a price-to-earnings ratio of -2,694.74 and a beta of 0.36. The company has a 50-day moving average of GBX 89.73 and a 200-day moving average of GBX 86.70.

Insider Buying and Selling at Bango

In related news, insider Paul Larbey bought 1,978 shares of the company's stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of GBX 91 per share, with a total value of £1,799.98. Also, insider Matt Wilson bought 1,978 shares of the company's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of GBX 97 per share, for a total transaction of £1,918.66. 12.25% of the stock is owned by company insiders.

About Bango

Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscriptions economy, powering choice and control for subscribers. The world's largest content providers, including Amazon NASDAQ: AMZN, Google NASDAQ: GOOG and Microsoft NASDAQ: MSFT trust Bango technology to reach subscribers everywhere. Bango, where people subscribe.