Gogo Inc. (NASDAQ:GOGO) Receives Average Recommendation of "Moderate Buy" from Brokerages

Gogo Inc. (NASDAQ:GOGO - Get Free Report) has been given an average rating of "Moderate Buy" by the four brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $15.30.

A number of research firms have commented on GOGO. Morgan Stanley decreased their target price on shares of Gogo from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. began coverage on shares of Gogo in a research note on Thursday, February 29th. They set a "neutral" rating and a $11.00 target price on the stock.

Gogo Price Performance

Shares of NASDAQ:GOGO remained flat at $8.12 during trading on Tuesday. 1,317,399 shares of the stock traded hands, compared to its average volume of 947,347. The company has a 50 day simple moving average of $8.86 and a 200-day simple moving average of $9.72. Gogo has a 52-week low of $7.53 and a 52-week high of $17.94. The company has a current ratio of 4.37, a quick ratio of 3.49 and a debt-to-equity ratio of 14.43. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 7.45 and a beta of 1.08.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. The firm had revenue of $97.81 million for the quarter, compared to analysts' expectations of $96.56 million. During the same quarter in the prior year, the business earned $0.21 EPS. The business's quarterly revenue was down 9.6% on a year-over-year basis. As a group, research analysts anticipate that Gogo will post 0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Gogo news, Director Charles C. Townsend bought 28,857 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the transaction, the director now owns 1,740,588 shares in the company, valued at $15,717,509.64. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Charles C. Townsend bought 28,857 shares of Gogo stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the acquisition, the director now owns 1,740,588 shares of the company's stock, valued at approximately $15,717,509.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harris N. Williams purchased 12,000 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the purchase, the director now directly owns 20,990 shares of the company's stock, valued at approximately $170,019. The disclosure for this purchase can be found here. 26.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Gogo

Large investors have recently modified their holdings of the business. Belpointe Asset Management LLC purchased a new stake in shares of Gogo during the first quarter worth about $29,000. Great West Life Assurance Co. Can boosted its position in Gogo by 41.0% in the first quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company's stock valued at $44,000 after buying an additional 633 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Gogo by 432.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,609 shares of the technology company's stock valued at $39,000 after buying an additional 2,119 shares during the last quarter. Royal Bank of Canada boosted its position in Gogo by 76.6% in the third quarter. Royal Bank of Canada now owns 3,069 shares of the technology company's stock valued at $37,000 after buying an additional 1,331 shares during the last quarter. Finally, UBS Group AG boosted its position in Gogo by 41.7% in the third quarter. UBS Group AG now owns 4,033 shares of the technology company's stock valued at $49,000 after buying an additional 1,186 shares during the last quarter. 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.