Roth Mkm Reaffirms Buy Rating for Gogo (NASDAQ:GOGO)

Roth Mkm reissued their buy rating on shares of Gogo (NASDAQ:GOGO) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $15.50 price objective on the technology company’s stock.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Gogo from $12.00 to $11.00 and set an equal weight rating for the company in a report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price target on Gogo from $11.00 to $10.00 and set a neutral rating for the company in a report on Thursday, August 8th.

Gogo Trading Up 1.5 %

Shares of Gogo stock opened at $6.88 on Tuesday. The company’s fifty day moving average is $8.10 and its two-hundred day moving average is $8.90. Gogo has a 1 year low of $6.72 and a 1 year high of $12.72. The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95. The company has a market capitalization of $874.48 million, a P/E ratio of 5.88 and a beta of 1.11.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $102.10 million for the quarter, compared to analyst estimates of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. Gogo’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 earnings per share. Analysts forecast that Gogo will post 0.35 earnings per share for the current year.

Institutional Investors Weigh In On Gogo

Institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gogo during the second quarter valued at approximately $107,000. AQR Capital Management LLC acquired a new stake in shares of Gogo during the 2nd quarter valued at approximately $108,000. SG Americas Securities LLC bought a new position in Gogo during the second quarter worth $109,000. Point72 DIFC Ltd bought a new position in Gogo during the second quarter worth $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Gogo by 67.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock worth $166,000 after purchasing an additional 6,941 shares during the period. Institutional investors and hedge funds 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.