In the last trading session, 1,397,029 Gogo Inc. (NASDAQ:GOGO) shares changed hands as the company’s beta touched 1.21. With the company’s per share price at $11.01 changed hands at -$0.26 or -0.02% during last session, the market valuation stood at $1.21 Billion. GOGO’s last price was a discount, traded about -56.49% off its 52-week high of $17.23. The share price had its 52-week low at $2.56, which suggests the last value was 76.75% up since then. When we look at Gogo Inc.’s average trading volume, we note the 10-day average is 2.28 Million shares, with the 3-month average coming to 1.9 Million.
Analysts gave the Gogo Inc. (GOGO) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2.6. If we narrow down to specifics, the data shows that 1 out of 7 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 3 recommended GOGO as a Hold, 3 felt it is a Buy and none rated the stock as Underweight. Gogo Inc.’s EPS for the current quarter is expected to be -$0.04.
Gogo Inc. (NASDAQ:GOGO) trade information
Although GOGO has turned red as seen at the end of in last trading. With action -2.31%, the performance over the past five days has been red. The jump to weekly highs of $12.74 on Wednesday, Jun 16 added 13.58% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.14%, with the 5-day performance at -0.05% in the red. However, in the 30-day time frame, Gogo Inc. (NASDAQ:GOGO) is -0.1% down. Looking at the short shares, we see there were 14.23 Million shares sold at short interest cover period of 7.49 days.
The consensus price target for the stock as assigned by Wall Street analysts is $13.2, meaning bulls need an upside of 19.89% from its current market value. According to analyst projections, GOGO’s forecast low is $10 with $16 as the target high. To hit the forecast high, the stock’s price needs a +45.32% upsurge from its current level, while the stock would need to tank -9.17% for it to hit the projected low.
Gogo Inc. (GOGO) estimates and forecasts
Data shows that the Gogo Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +14.09% over the past 6 months, a 111.86% in annual growth rate that is considerably higher than the industry average of 0.8%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Gogo Inc. will rise +96.2%, while the growth in revenue is estimated to hit 107.2% for the next quarter. Year-over-year growth is forecast to reach 18.1% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $75.14 Million. 6 analysts are of the opinion that Gogo Inc.’s revenue for the quarter ending September 01, 2021 will be $81.45 Million. The company’s revenue for the corresponding quarters a year ago was $96.64 Million and $66.53 Million respectively. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -22.2%. The estimates for the next quarter sales put growth at 22.4%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 15.3%. The 2021 estimates are for Gogo Inc. earnings to increase by 45.1%, but the outlook for the next 5-year period is at 10% per year.
Gogo Inc. (NASDAQ:GOGO)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 27.73% of Gogo Inc. shares while 64% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 88.55%. There are 195 institutions holding the Gogo Inc. stock share, with GTCR, LLC the top institutional holder. As of Mar 30, 2021, the company held 11.56% of the shares, roughly 12.67 Million GOGO shares worth $122.44 Million.
Tenzing Global Management, Llc holds the second largest percentage of outstanding shares, with 3.92% or 4.3 Million shares worth $41.54 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 1463290 shares estimated at $14.14 Million under it, the former controlled 1.33% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.24% of the shares, roughly 1.36 Million shares worth around $13.13 Million.