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

Gogo (NASDAQ:GOGO) had its price objective decreased by stock analysts at Roth Mkm from $15.50 to $13.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Roth Mkm’s target price would suggest a potential upside of 97.42% from the company’s current price.

Gogo Trading Down 4.0 %

NASDAQ:GOGO traded down $0.28 during mid-day trading on Monday, hitting $6.59. 1,046,751 shares of the stock traded hands, compared to its average volume of 1,058,668. The stock has a market capitalization of $828.25 million, a price-to-earnings ratio of 15.34 and a beta of 1.01. Gogo has a 52 week low of $6.17 and a 52 week high of $11.00. The firm’s 50 day moving average is $7.77 and its two-hundred day moving average is $7.57. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.

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

Hedge Funds Weigh In On Gogo

A number of hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC acquired a new stake in Gogo in the fourth quarter valued at approximately $43,000. State of Wyoming acquired a new stake in Gogo in the fourth quarter valued at approximately $57,000. Teza Capital Management LLC acquired a new stake in Gogo in the fourth quarter valued at approximately $110,000. Hsbc Holdings PLC acquired a new stake in shares of Gogo during the fourth quarter worth $116,000. Finally, Diametric Capital LP acquired a new stake in shares of Gogo during the fourth quarter worth $121,000. 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.