JPMorgan Chase & Co. Lowers Gogo (NASDAQ:GOGO) Price Target to $15.00

Gogo (NASDAQ:GOGO) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $18.00 to $15.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 48.66% from the company’s previous close.

GOGO has been the topic of several other reports. Roth Mkm lowered their target price on shares of Gogo from $22.50 to $19.50 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. TheStreet lowered shares of Gogo from a “b-” rating to a “c+” rating in a research report on Thursday, August 24th. Northland Securities lowered their target price on shares of Gogo from $16.00 to $14.00 in a research report on Tuesday, August 8th. StockNews.com initiated coverage on shares of Gogo in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, TD Cowen reduced their price objective on shares of Gogo from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, August 14th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.63.

Gogo Price Performance

Shares of GOGO opened at $10.09 on Wednesday. Gogo has a 1-year low of $9.53 and a 1-year high of $17.94. The stock has a market cap of $1.30 billion, a PE ratio of 8.48 and a beta of 1.43. The company has a debt-to-equity ratio of 17.55, a current ratio of 4.59 and a quick ratio of 3.15. The firm has a fifty day moving average price of $11.51 and a 200 day moving average price of $13.69.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Gogo had a net margin of 38.95% and a negative return on equity of 263.04%. The company had revenue of $97.95 million for the quarter, compared to analyst estimates of $103.78 million. During the same period in the previous year, the business posted $0.15 earnings per share. Gogo’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Gogo will post 0.64 EPS for the current year.

Institutional Investors Weigh In On Gogo

Several large investors have recently made changes to their positions in GOGO. Envestnet Asset Management Inc. acquired a new stake in Gogo during the 1st quarter valued at $308,000. Bank of New York Mellon Corp grew its holdings in Gogo by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 230,953 shares of the technology company’s stock valued at $4,403,000 after purchasing an additional 1,189 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Gogo by 115.7% during the 1st quarter. MetLife Investment Management LLC now owns 31,583 shares of the technology company’s stock valued at $602,000 after acquiring an additional 16,943 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Gogo by 41.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company’s stock valued at $44,000 after acquiring an additional 633 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in Gogo by 9.3% during the 1st quarter. Blair William & Co. IL now owns 442,255 shares of the technology company’s stock valued at $8,429,000 after acquiring an additional 37,606 shares during the last quarter. Institutional investors and hedge funds own 66.88% of the company’s stock.

Gogo Company Profile

Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company operates through Commercial Aviation-North America, Commercial Aviation-Rest of World, and Business Aviation segments. Its platform include networks, antennas, and airborne equipment and software.