Gogo (NASDAQ:GOGO) released its quarterly earnings results on Thursday. The technology company reported ($0.47) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.12, Morningstar.com reports. The business had revenue of $213.70 million for the quarter, compared to analysts’ expectations of $199.62 million. During the same period in the previous year, the company earned ($0.47) EPS. Gogo’s revenue for the quarter was down 6.1% compared to the same quarter last year. Gogo updated its FY 2019 guidance to EPS.
Shares of NASDAQ GOGO traded up $0.06 during midday trading on Friday, hitting $4.63. 2,867,424 shares of the company’s stock traded hands, compared to its average volume of 1,488,831. The company has a fifty day moving average price of $4.22. The stock has a market capitalization of $338.90 million, a PE ratio of -2.53 and a beta of 0.97. Gogo has a 1 year low of $2.64 and a 1 year high of $7.82.
In other news, Director Charles C. Townsend bought 64,389 shares of Gogo stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of $5.48 per share, with a total value of $352,851.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 41.50% of the company’s stock.
Several research firms have recently commented on GOGO. William Blair raised shares of Gogo from a “market perform” rating to an “outperform” rating in a research report on Friday, May 10th. Cowen raised shares of Gogo from a “market perform” rating to an “outperform” rating and upped their price target for the company from $4.25 to $7.00 in a research report on Thursday, April 18th. Roth Capital began coverage on shares of Gogo in a research report on Monday, May 13th. They set a “buy” rating and a $10.00 price target for the company. Zacks Investment Research raised shares of Gogo from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research report on Wednesday. Finally, BidaskClub lowered shares of Gogo from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company. Gogo currently has a consensus rating of “Hold” and a consensus price target of $5.75.
Gogo Company Profile
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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