In yesterday’s Wall Street session, Gogo Inc. (NASDAQ:GOGO) shares traded at $15.39, down -1.79% from the previous session.
As of this writing, 8 analysts cover Gogo Inc. (NASDAQ:GOGO). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $26.00 and a low of $15.00, we find $20.40. Given the previous closing price of $15.67, this indicates a potential upside of 30.19 percent. GOGO stock price is now 0.64% away from the 50-day moving average and -4.82% away from the 200-day moving average. The market capitalization of the company currently stands at $1.96B.
There are 4 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $20.63 as their price target over the next twelve months.
With the price target enhanced from $14 to $15, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Gogo Inc. (NASDAQ: GOGO). On October 07, 2021, JP Morgan Upgraded its previous ‘Underweight’ rating to ‘Neutral’ on the stock keeping its target price maintained at $16, while ‘Morgan Stanley’ rates the stock as ‘Underweight’.
In other news, Betjemann Jessica, SVP, Finance, Treasurer & CAO sold 8,000 shares of the company’s stock on May 26. The stock was sold for $158,480 at an average price of $19.81. Upon completion of the transaction, the SVP, Finance, Treasurer & CAO now directly owns 25,528 shares in the company, valued at $0.39 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 24, EVP, Gen Counsel and Secy Elias Marguerite M sold 30,000 shares of the business’s stock. A total of $563,739 was realized by selling the stock at an average price of $18.79. This leaves the insider owning 54,791 shares of the company worth $0.84 million. Insiders disposed of 106,445 shares of company stock worth roughly $1.64 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GOGO stock. A new stake in Gogo Inc. shares was purchased by KENNEDY CAPITAL MANAGEMENT, INC. during the first quarter worth $2,838,000. EXODUSPOINT CAPITAL MANAGEMENT, LP invested $2,449,000 in shares of GOGO during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in Gogo Inc. valued at approximately $1,681,000. ALPHA PARADIGM PARTNERS, LLC acquired a new stake in GOGO for approximately $1,663,000. DELTEC ASSET MANAGEMENT LLC purchased a new stake in GOGO valued at around $1,400,000 in the second quarter. In total, there are 253 active investors with 65.00% ownership of the company’s stock.
Thursday morning saw Gogo Inc. (NASDAQ: GOGO) opened at $15.61. During the past 12 months, Gogo Inc. has had a low of $11.57 and a high of $23.69. The fifty day moving average price for GOGO is $15.29 and a two-hundred day moving average price translates $16.17 for the stock.
The latest earnings results from Gogo Inc. (NASDAQ: GOGO) was released for Jun, 2022. According to the Telecom Services Company, earnings per share came in at $0.17, beating analysts’ expectations of $0.14 by 0.03. This compares to -$0.07 EPS in the same period last year. The net profit margin was 72.90% and return on equity was -129.40% for GOGO. The company reported revenue of $105.32 million for the quarter, compared to $87.17 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.82 percent. For the current quarter, analysts expect GOGO to generate $101.91M in revenue.
Gogo Inc.(GOGO) Company Profile
Gogo Inc., through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services. It also offers suite of integrated equipment, network, and internet connectivity products and services, as well as includes suite of smart cabin systems for integrated connectivity, in-flight entertainment, and voice solutions. In addition, the company portfolio comprises of in-flight network, in-flight systems, in-flight services, aviation partner support, and production operations functions. Further, the company offers satellite-based voice and data services. Gogo Inc. was founded in 1991 and is headquartered in Broomfield, Colorado.