Gogo Inflight Internet (GOGO) Receives Consensus Rating of “Hold” from Analysts

Gogo Inflight Internet (NASDAQ:GOGO) has been assigned an average recommendation of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.80.

GOGO has been the topic of a number of recent research reports. Morgan Stanley reiterated a “sell” rating on shares of Gogo Inflight Internet in a research note on Tuesday, March 6th. BidaskClub lowered shares of Gogo Inflight Internet from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 4th. Zacks Investment Research lowered shares of Gogo Inflight Internet from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Northland Securities set a $6.00 price target on shares of Gogo Inflight Internet and gave the stock a “sell” rating in a research note on Friday, February 23rd. Finally, Guggenheim lowered shares of Gogo Inflight Internet from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $8.75 to $14.00 in a research note on Wednesday, March 7th.

NASDAQ:GOGO traded up $0.22 on Wednesday, reaching $9.25. 261,484 shares of the company’s stock were exchanged, compared to its average volume of 1,045,116. The company has a debt-to-equity ratio of -5.22, a current ratio of 1.87 and a quick ratio of 1.73. The firm has a market capitalization of $784.20, a PE ratio of -4.23 and a beta of 1.45. Gogo Inflight Internet has a 52-week low of $8.02 and a 52-week high of $14.76.

Gogo Inflight Internet (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.04). The business had revenue of $188.00 million for the quarter, compared to the consensus estimate of $181.44 million. Gogo Inflight Internet’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.34) EPS. analysts expect that Gogo Inflight Internet will post -1.97 EPS for the current fiscal year.

In related news, Director Charles C. Townsend acquired 100,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was acquired at an average cost of $9.32 per share, with a total value of $932,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 37.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in GOGO. Billings Capital Management LLC grew its position in shares of Gogo Inflight Internet by 14.7% during the fourth quarter. Billings Capital Management LLC now owns 3,379,752 shares of the technology company’s stock worth $38,124,000 after buying an additional 432,667 shares in the last quarter. SG Americas Securities LLC acquired a new position in Gogo Inflight Internet in the fourth quarter valued at approximately $2,079,000. Deutsche Bank AG boosted its holdings in Gogo Inflight Internet by 340.4% in the fourth quarter. Deutsche Bank AG now owns 225,223 shares of the technology company’s stock valued at $2,539,000 after purchasing an additional 174,084 shares in the last quarter. PEAK6 Investments L.P. boosted its holdings in Gogo Inflight Internet by 1,198.0% in the fourth quarter. PEAK6 Investments L.P. now owns 115,290 shares of the technology company’s stock valued at $1,300,000 after purchasing an additional 125,790 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC acquired a new position in Gogo Inflight Internet in the fourth quarter valued at approximately $1,175,000. 77.64% of the stock is owned by institutional investors and hedge funds.

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Gogo Inflight Internet 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).

Analyst Recommendations for Gogo Inflight Internet (NASDAQ:GOGO)

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