Gogo (NASDAQ:GOGO) Shares Up 3.8% – What’s Next?

Gogo Inc. (NASDAQ:GOGO)’s share price was up 3.8% during trading on Tuesday . The stock traded as high as $6.76 and last traded at $6.72. Approximately 510,637 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 1,062,952 shares. The stock had previously closed at $6.47.

Analysts Set New Price Targets

Several equities research analysts have commented on GOGO shares. Roth Mkm dropped their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com cut shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday.

Gogo Price Performance

The stock has a 50 day moving average of $7.75 and a two-hundred day moving average of $7.56. The stock has a market cap of $872.28 million, a PE ratio of 16.11 and a beta of 1.01. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $137.80 million for the quarter, compared to analysts’ expectations of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. Gogo’s revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. Equities analysts anticipate that Gogo Inc. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Gogo

A number of institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its stake in Gogo by 357.5% during the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after acquiring an additional 85,925 shares in the last quarter. Van ECK Associates Corp grew its stake in Gogo by 256.1% during the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company’s stock valued at $1,252,000 after acquiring an additional 111,267 shares in the last quarter. State Street Corp grew its stake in Gogo by 2.1% during the 3rd quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after acquiring an additional 51,681 shares in the last quarter. FMR LLC grew its stake in Gogo by 13.5% during the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock valued at $40,589,000 after acquiring an additional 673,315 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in Gogo by 612.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 253,114 shares of the technology company’s stock valued at $1,817,000 after acquiring an additional 217,570 shares in the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

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.