Gogo (NASDAQ:GOGO) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

Gogo (NASDAQ:GOGO) had its target price trimmed by JPMorgan Chase & Co. from $11.00 to $10.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Separately, Morgan Stanley decreased their price objective on shares of Gogo from $15.00 to $12.00 and set an equal weight rating for the company in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $15.38.

Gogo Stock Down 1.4 %

Shares of GOGO traded down $0.11 during trading hours on Thursday, hitting $7.63. The stock had a trading volume of 963,499 shares, compared to its average volume of 873,023. The company has a debt-to-equity ratio of 9.39, a current ratio of 4.20 and a quick ratio of 3.33. The firm has a market capitalization of $969.81 million, a P/E ratio of 6.49 and a beta of 1.13. The firm has a 50 day simple moving average of $9.37 and a 200-day simple moving average of $9.24. Gogo has a 1-year low of $7.38 and a 1-year high of $12.95.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. The firm had revenue of $104.32 million during the quarter, compared to the consensus estimate of $96.62 million. Gogo had a net margin of 38.61% and a return on equity of 229.65%. Sell-side analysts predict that Gogo will post 0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Gogo

Several institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System acquired a new stake in shares of Gogo in the 4th quarter valued at approximately $313,000. Van ECK Associates Corp grew its position in Gogo by 5.7% during the fourth quarter. Van ECK Associates Corp now owns 28,332 shares of the technology company’s stock worth $287,000 after buying an additional 1,538 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Gogo by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 509,592 shares of the technology company’s stock worth $5,162,000 after purchasing an additional 1,735 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Gogo in the 4th quarter worth $203,000. Finally, Aigen Investment Management LP bought a new position in Gogo in the 4th quarter valued at about $256,000. 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.