Roth Mkm Issues Pessimistic Forecast for Gogo (NASDAQ:GOGO) Stock Price

Gogo (NASDAQ:GOGO) had its price objective cut by research analysts at Roth Mkm from $15.50 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Roth Mkm’s target price would indicate a potential upside of 97.42% from the company’s previous close.

Gogo Stock Down 4.0 %

NASDAQ GOGO traded down $0.28 during mid-day trading on Monday, reaching $6.59. The stock had a trading volume of 1,046,751 shares, compared to its average volume of 1,058,668. Gogo has a 1 year low of $6.17 and a 1 year high of $11.00. The stock has a market cap of $828.25 million, a PE ratio of 15.34 and a beta of 1.01. The company has a fifty day moving average price of $7.77 and a 200 day moving average price of $7.57. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81.

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

Institutional Investors Weigh In On Gogo

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

Gogo Company Profile

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.