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A number of other equities analysts also recently weighed in on GOGO. William Blair reaffirmed a “buy” rating on shares of Gogo in a research note on Monday, September 23rd. Zacks Investment Research upgraded shares of Gogo from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Thursday, October 31st. Finally, BidaskClub upgraded shares of Gogo from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Gogo has a consensus rating of “Buy” and an average target price of $6.38.
NASDAQ GOGO traded up $0.02 during trading on Thursday, hitting $6.50. 2,653,900 shares of the company’s stock traded hands, compared to its average volume of 1,622,084. Gogo has a 12-month low of $2.64 and a 12-month high of $7.23. The firm has a market cap of $570.68 million, a P/E ratio of -3.55 and a beta of 1.05. The stock has a fifty day moving average of $5.99 and a two-hundred day moving average of $5.03.
Gogo (NASDAQ:GOGO) last announced its earnings results on Thursday, November 7th. The technology company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.29. The business had revenue of $201.18 million for the quarter, compared to the consensus estimate of $206.07 million. During the same period in the prior year, the business posted ($0.47) EPS. Gogo’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Gogo will post -1.82 earnings per share for the current year.
In other news, Director Hugh W. Jones purchased 50,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $3.98 per share, for a total transaction of $199,000.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $199,000. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles C. Townsend purchased 45,200 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were purchased at an average price of $3.99 per share, for a total transaction of $180,348.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 265,851 shares of company stock worth $1,101,013. Corporate insiders own 41.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of GOGO. Metropolitan Life Insurance Co NY purchased a new stake in Gogo in the first quarter worth approximately $73,000. First Midwest Bank Trust Division boosted its holdings in Gogo by 13.4% in the second quarter. First Midwest Bank Trust Division now owns 1,551,008 shares of the technology company’s stock worth $6,173,000 after purchasing an additional 183,056 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Gogo in the second quarter worth approximately $120,000. BancorpSouth Bank purchased a new stake in Gogo in the second quarter worth approximately $199,000. Finally, Aperio Group LLC purchased a new stake in Gogo in the second quarter worth approximately $40,000. Institutional investors own 55.75% of the company’s stock.
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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