Gogo (NASDAQ:GOGO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Gogo (NASDAQ:GOGO - Free Report) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Separately, Roth Mkm reduced their target price on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 17th.

Gogo Price Performance

Shares of Gogo stock traded up $0.38 on Thursday, reaching $11.22. The company's stock had a trading volume of 1,064,314 shares, compared to its average volume of 1,654,830. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The company has a market capitalization of $1.48 billion, a P/E ratio of 26.08 and a beta of 0.93. The stock has a 50-day moving average price of $8.64 and a 200-day moving average price of $8.09. Gogo has a 52-week low of $6.17 and a 52-week high of $13.16.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.13. The firm had revenue of $230.31 million for the quarter, compared to analyst estimates of $214.93 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The business's revenue was up 120.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. Analysts expect that Gogo will post 0.41 EPS for the current year.

Insider Buying and Selling at Gogo

In related news, Director Oakleigh Thorne acquired 30,173 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the purchase, the director now owns 711,341 shares of the company's stock, valued at $4,673,510.37. This represents a 4.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Gogo by 532.9% during the first quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company's stock worth $31,000 after purchasing an additional 3,027 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Gogo in the 4th quarter valued at about $43,000. State of Wyoming purchased a new position in Gogo during the 4th quarter worth approximately $57,000. Teza Capital Management LLC acquired a new position in Gogo during the fourth quarter worth approximately $110,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gogo during the first quarter worth approximately $111,000. Institutional investors and hedge funds own 69.60% of the company's stock.

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.