In the last trading session, 1,750,552 shares of the Gogo Inc.(NASDAQ:GOGO) were traded, and its beta was 1.26. Most recently the company’s share price was $13, and it changed around -$0.14 or -0.01% from the last close, which brings the market valuation of the company to $1.11 Billion. GOGO currently trades at a discount to its 52-week high of $17.23, offering almost -32.54% off that amount. The share price’s 52-week low was $1.33, which indicates that the current value has risen by an impressive 89.77% since then. We note from Gogo Inc.’s average daily trading volume that its 10-day average is 3.24 Million shares, with the 3-month average coming to 3.58 Million.
Gogo Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 3. If we narrow it down even further, the data shows that 1 out of 6 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 4 recommended GOGO as a Hold, whereas 1 deemed it a Buy, and no one rated it as Underweight. Gogo Inc. is expected to report earnings per share of -$0.42 for the current quarter.
Gogo Inc. (NASDAQ:GOGO): Trading Information
Although GOGO has showed a red trend with a performance of -1.07% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $16.13 on Tuesday, Feb 16 increased the stock’s daily price by 19.4%. The company’s shares are currently up 0.35% year-to-date, but still down -0.062 over the last five days. On the other hand, Gogo Inc. (NASDAQ:GOGO) is 0.14% up in the 30-day period. We can see from the shorts that 17.6 Million shares have been sold at a short interest cover period of 4.92 day(s).
The consensus price target as assigned by Wall Street analysts is $11.33, which translates to bears needing to reduce their stock price by -12.85% from its current value. Analyst projections state that GOGO is forecast to be at a low of $10 and a high of $13. In order for the stock price to hit the forecast high, the stock would need to surge +0% from its current level, while the stock would need to crash -23.08% from its current level to reach the projected low.
Gogo Inc. (GOGO) projections and forecasts
Gogo Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +277.91 percent over the past six months and at a -28.18% annual growth rate that is well below the industry average of -12.5%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -50% in revenue this quarter, and will report an increase of 88.5% in the next quarter. The year-over-year growth rate is expected to be -50.2%, down from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $69.09 Million in revenue for the current quarter. 4 analysts expect Gogo Inc. to make $71.48 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $221.31 Million and $184.47 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -68.8%. Forecasts for the next quarter put sales growth at -61.3%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -12.7%. Gogo Inc. earnings are expected to increase by 12.9% in 2021, but the outlook is positive 10% per year for the next five years.
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Gogo Inc. (NASDAQ:GOGO)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 52.4% of Gogo Inc. shares, and 42.28% of them are in the hands of institutional investors. The stock currently has a share float of 88.83%. Gogo Inc. stock is held by 153 institutions, with Mudrick Capital Management, L.P. being the largest institutional investor. By Sep 29, 2020, it held 10.24% of the shares, which is about 8.73 Million shares worth $80.64 Million.
Blackrock Inc., with 4.46% or 3.81 Million shares worth $36.65 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.