Gogo (NASDAQ:GOGO) Given New $13.00 Price Target at Roth Mkm

Gogo (NASDAQ:GOGO) had its target price trimmed by Roth Mkm from $15.50 to $13.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Gogo Stock Performance

NASDAQ:GOGO opened at $7.70 on Monday. The stock has a fifty day moving average price of $7.74 and a 200-day moving average price of $7.56. The company has a market cap of $968.50 million, a price-to-earnings ratio of 17.91 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 has a fifty-two week low of $6.17 and a fifty-two week high of $11.00.

Gogo (NASDAQ:GOGO) last released its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $137.80 million during the quarter, compared to the consensus estimate of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company’s revenue was up 40.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. As a group, equities analysts anticipate that Gogo will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Gogo news, Director Oakleigh Thorne acquired 30,173 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the transaction, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 26.00% of the stock is owned by corporate insiders.

Institutional Trading of Gogo

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in Gogo by 138.4% in the 4th quarter. FMR LLC now owns 13,475,009 shares of the technology company’s stock worth $109,013,000 after purchasing an additional 7,821,973 shares in the last quarter. Capco Asset Management LLC boosted its holdings in Gogo by 22.1% in the fourth quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company’s stock worth $24,349,000 after acquiring an additional 544,178 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in Gogo by 441.5% in the fourth quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company’s stock worth $20,829,000 after acquiring an additional 2,099,145 shares in the last quarter. State Street Corp lifted its holdings in shares of Gogo by 2.1% in the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Gogo by 15.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company’s stock valued at $19,613,000 after purchasing an additional 330,961 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors.

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.