Brokerages Set Gogo Inc. (NASDAQ:GOGO) Price Target at $15.30

Shares of Gogo Inc. (NASDAQ:GOGO) have been given an average recommendation of “Moderate Buy” by the four brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $15.30.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Gogo in a research note on Thursday, February 29th. They issued a “neutral” rating and a $11.00 target price on the stock. Morgan Stanley decreased their target price on shares of Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday.

Insiders Place Their Bets

In other news, Director Charles C. Townsend purchased 28,857 shares of Gogo stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $9.03 per share, with a total value of $260,578.71. Following the transaction, the director now owns 1,740,588 shares in the company, valued at $15,717,509.64. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Harris N. Williams purchased 12,000 shares of Gogo stock in a transaction dated Thursday, February 29th. The shares were purchased at an average price of $8.10 per share, with a total value of $97,200.00. Following the transaction, the director now owns 20,990 shares in the company, valued at $170,019. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles C. Townsend purchased 28,857 shares of Gogo stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $9.03 per share, for a total transaction of $260,578.71. Following the transaction, the director now owns 1,740,588 shares in the company, valued at approximately $15,717,509.64. The disclosure for this purchase can be found here. Corporate insiders own 26.00% of the company’s stock.

Institutional Trading of Gogo

Several institutional investors have recently made changes to their positions in the company. Belpointe Asset Management LLC acquired a new stake in Gogo in the 1st quarter valued at approximately $29,000. Great West Life Assurance Co. Can increased its holdings in Gogo by 41.0% in 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 purchasing an additional 633 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Gogo by 432.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,609 shares of the technology company’s stock valued at $39,000 after purchasing an additional 2,119 shares during the last quarter. Royal Bank of Canada increased its holdings in Gogo by 76.6% in the 3rd quarter. Royal Bank of Canada now owns 3,069 shares of the technology company’s stock valued at $37,000 after purchasing an additional 1,331 shares during the last quarter. Finally, UBS Group AG increased its holdings in Gogo by 41.7% in the 3rd quarter. UBS Group AG now owns 4,033 shares of the technology company’s stock valued at $49,000 after purchasing an additional 1,186 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Trading Up 1.6 %

Shares of Gogo stock opened at $8.37 on Tuesday. The firm has a market capitalization of $1.07 billion, a PE ratio of 7.68 and a beta of 1.08. Gogo has a twelve month low of $7.53 and a twelve month high of $17.94. The firm’s 50-day moving average price is $8.80 and its 200 day moving average price is $9.68. The company has a current ratio of 4.37, a quick ratio of 3.49 and a debt-to-equity ratio of 14.43.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $97.81 million for the quarter, compared to analyst estimates of $96.56 million. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. Gogo’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. On average, sell-side analysts predict that Gogo will post 0.36 EPS for the current fiscal year.

About Gogo

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.