Gogo Inc. (NASDAQ:GOGO) Stock Has Consensus Target Price of $8.50 According to Analysts

Key Points

• Analyst consensus is “Hold” for Gogo, with three hold ratings, one buy, and one sell. The average 12-month price target is $8.50.
• Gogo shares opened at $2.17, near the lower end of their 12-month range of $1.96 to $9.93. The company has a $294.06 million market capitalization and carries a high debt-to-equity ratio of 6.74.
• Gogo’s latest quarterly results missed expectations, reporting $0.03 in adjusted earnings per share versus a $0.06 consensus estimate and revenue of $222.81 million versus $229.35 million expected; revenue declined 1.4% year over year.

Shares of Gogo Inc. (NASDAQ:GOGO - Get Free Report) have received an average rating of "Hold" from the five analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.50.

Several research analysts have issued reports on the company. Wall Street Zen lowered Gogo from a "hold" rating to a "sell" rating in a research report on Saturday. Roth Capital reiterated a "buy" rating on shares of Gogo in a report on Friday, August 7th. Weiss Ratings downgraded Gogo from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, August 17th. Finally, Zacks Research raised Gogo from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th.

Gogo Price Performance

Gogo stock opened at $2.17 on Friday. The firm has a 50-day moving average price of $2.43 and a 200-day moving average price of $3.40. The firm has a market capitalization of $294.06 million, a PE ratio of 217.00 and a beta of 1.22. The company has a current ratio of 1.73, a quick ratio of 1.21 and a debt-to-equity ratio of 6.74. Gogo has a 12-month low of $1.96 and a 12-month high of $9.93.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Gogo had a negative net margin of 0.09% and a positive return on equity of 22.55%. The firm had revenue of $222.81 million for the quarter, compared to the consensus estimate of $229.35 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The business's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Gogo will post 0.03 EPS for the current year.

Institutional Trading of Gogo

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Gogo during the fourth quarter worth $27,000. PNC Financial Services Group Inc. grew its holdings in shares of Gogo by 310.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,318 shares of the technology company's stock worth $29,000 after purchasing an additional 5,536 shares during the last quarter. State of Wyoming bought a new position in shares of Gogo in the first quarter worth about $34,000. Two Sigma Securities LLC bought a new position in shares of Gogo in the second quarter worth about $41,000. Finally, Fifth Third Bancorp increased its stake in Gogo by 7,817.6% in the 1st quarter. Fifth Third Bancorp now owns 17,102 shares of the technology company's stock worth $69,000 after buying an additional 16,886 shares during the period. Hedge funds and other institutional investors own 69.60% of the company's stock.

About Gogo

Gogo Inc is an aviation connectivity and broadband services company that provides internet access, entertainment, and communications solutions for business and commercial aircraft. Its offerings are designed to help passengers and flight crews stay connected while in the air through a combination of air-to-ground and satellite-based technologies.

Gogo's business aviation portfolio includes the AVANCE connectivity platform, which supports in-flight Wi-Fi and related services, as well as equipment, software, and network management solutions for private and business aircraft.

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