Gogo Inc (GOGO) Receives $7.30 Consensus PT from Brokerages

Gogo Inc (NASDAQ:GOGO) has earned an average recommendation of “Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.30.

A number of research analysts have recently commented on GOGO shares. Northland Securities reaffirmed a “sell” rating and set a $1.50 price target on shares of Gogo in a research report on Friday, February 22nd. BidaskClub cut Gogo from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. William Blair raised Gogo from a “market perform” rating to an “outperform” rating in a report on Friday, May 10th. Zacks Investment Research raised Gogo from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a report on Thursday, February 21st. Finally, Cowen raised Gogo from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $4.25 to $7.00 in a report on Thursday, April 18th.

In other Gogo news, Director Charles C. Townsend purchased 277,405 shares of the stock in a transaction on Wednesday, February 27th. The shares were purchased at an average price of $4.36 per share, with a total value of $1,209,485.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles C. Townsend purchased 64,389 shares of the stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $5.48 per share, for a total transaction of $352,851.72. The disclosure for this purchase can be found here. Corporate insiders own 36.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. purchased a new stake in shares of Gogo in the 4th quarter valued at about $46,000. Metropolitan Life Insurance Co NY purchased a new stake in shares of Gogo in the 1st quarter valued at about $73,000. Intersect Capital LLC purchased a new stake in shares of Gogo in the 1st quarter valued at about $90,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Gogo in the 1st quarter valued at about $108,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Gogo in the 1st quarter valued at about $121,000. 57.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ GOGO traded up $0.03 during trading on Thursday, reaching $5.82. 58,858 shares of the stock traded hands, compared to its average volume of 1,526,066. Gogo has a 52-week low of $2.64 and a 52-week high of $7.82. The stock has a market capitalization of $518.90 million, a PE ratio of -3.20 and a beta of 1.35.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.31. The firm had revenue of $199.55 million for the quarter, compared to analysts’ expectations of $198.00 million. During the same period in the prior year, the company earned ($0.34) EPS. The firm’s quarterly revenue was down 13.9% on a year-over-year basis. As a group, research analysts forecast that Gogo will post -1.8 earnings per share for the current fiscal year.

Gogo Company Profile

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).

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Analyst Recommendations for Gogo (NASDAQ:GOGO)

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