$89.42 Million in Sales Expected for Gogo Inc. (NASDAQ:GOGO) This Quarter

Wall Street analysts predict that Gogo Inc. (NASDAQ:GOGO – Get Rating) will post sales of $89.42 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Gogo’s earnings, with the highest sales estimate coming in at $94.20 million and the lowest estimate coming in at $83.20 million. Gogo posted sales of $73.87 million during the same quarter last year, which suggests a positive year over year growth rate of 21.1%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Gogo will report full year sales of $385.53 million for the current year, with estimates ranging from $382.62 million to $387.50 million. For the next year, analysts expect that the firm will post sales of $431.70 million, with estimates ranging from $417.32 million to $446.30 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Gogo.

Gogo (NASDAQ:GOGO – Get Rating) last issued its quarterly earnings data on Thursday, March 3rd. The technology company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.08. Gogo had a net margin of 45.49% and a negative return on equity of 6.09%. The business had revenue of $92.30 million during the quarter, compared to the consensus estimate of $89.28 million. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. The company’s revenue was up 18.9% compared to the same quarter last year.

Several research analysts recently weighed in on GOGO shares. Roth Capital upped their price target on shares of Gogo from $20.50 to $21.00 in a research report on Thursday, March 3rd. Zacks Investment Research raised shares of Gogo from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Monday, March 7th. StockNews.com initiated coverage on shares of Gogo in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Gogo from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $19.00.

GOGO opened at $23.02 on Thursday. Gogo has a twelve month low of $9.61 and a twelve month high of $23.66. The company has a 50-day moving average price of $16.51 and a 200 day moving average price of $15.11. The company has a market cap of $2.55 billion, a PE ratio of 23.98 and a beta of 1.05.

Several large investors have recently bought and sold shares of GOGO. Metropolitan Life Insurance Co NY acquired a new stake in Gogo during the 1st quarter worth approximately $73,000. SG Americas Securities LLC lifted its holdings in Gogo by 264.1% during the 3rd quarter. SG Americas Securities LLC now owns 33,823 shares of the technology company’s stock worth $585,000 after buying an additional 24,533 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Gogo during the 3rd quarter worth approximately $186,000. Russell Investments Group Ltd. lifted its holdings in Gogo by 304.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 321,140 shares of the technology company’s stock worth $5,555,000 after buying an additional 241,823 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Gogo by 16.0% during the 3rd quarter. Swiss National Bank now owns 109,000 shares of the technology company’s stock worth $1,886,000 after buying an additional 15,000 shares in the last quarter. 69.44% of the stock is owned by hedge funds and other institutional investors.

Gogo Company Profile (Get Rating)

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.

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