Weiss Ratings Reiterates "Sell (D+)" Rating for Gogo (NASDAQ:GOGO)

Key Points

• Weiss Ratings has reissued a "Sell (D+)" rating for Gogo, indicating a cautious outlook on the company's stock performance.
• Despite the negative rating from Weiss, Gogo has received a "Buy" rating from Roth Capital with a price target of $16.50, while the average price target across analysts is $14.83.
• Gogo reported a 121.4% year-over-year increase in quarterly revenue, reaching $226.04 million, and beat earnings expectations with $0.13 earnings per share.

Gogo (NASDAQ:GOGO - Get Free Report)'s stock had its "sell (d+)" rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on the company. Roth Capital set a $16.50 price target on Gogo and gave the company a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen cut Gogo from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley began coverage on Gogo in a research note on Thursday, August 14th. They issued an "equal weight" rating and a $15.00 price target for the company. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $14.83.

Gogo Trading Up 5.0%

Shares of GOGO stock opened at $9.18 on Wednesday. The firm has a market capitalization of $1.23 billion, a P/E ratio of 229.50 and a beta of 1.07. Gogo has a twelve month low of $6.20 and a twelve month high of $16.82. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 8.10. The stock's fifty day simple moving average is $10.88 and its 200 day simple moving average is $11.17.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $226.04 million for the quarter, compared to analyst estimates of $220.12 million. Gogo had a return on equity of 88.04% and a net margin of 1.05%.Gogo's quarterly revenue was up 121.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. Gogo has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Gogo will post 0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher John Moore purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $12.11 per share, with a total value of $121,100.00. Following the purchase, the chief executive officer owned 10,000 shares in the company, valued at $121,100. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 25.78% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GOGO. William Blair Investment Management LLC raised its stake in Gogo by 124.8% during the 2nd quarter. William Blair Investment Management LLC now owns 5,673,833 shares of the technology company's stock worth $83,292,000 after buying an additional 3,149,585 shares during the period. Nantahala Capital Management LLC raised its stake in shares of Gogo by 38.5% in the first quarter. Nantahala Capital Management LLC now owns 3,564,797 shares of the technology company's stock worth $30,729,000 after purchasing an additional 990,155 shares during the last quarter. Tenzing Global Management LLC raised its stake in shares of Gogo by 31.3% in the first quarter. Tenzing Global Management LLC now owns 2,725,000 shares of the technology company's stock worth $23,490,000 after purchasing an additional 650,000 shares during the last quarter. Millennium Management LLC raised its stake in shares of Gogo by 439.5% in the first quarter. Millennium Management LLC now owns 709,003 shares of the technology company's stock worth $6,112,000 after purchasing an additional 577,575 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Gogo by 364.9% in the first quarter. Royce & Associates LP now owns 701,374 shares of the technology company's stock worth $6,046,000 after purchasing an additional 550,519 shares during the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

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.

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