Gogo Inc. [GOGO] stock Downgrade by Cowen analyst, price target now $10

Gogo Inc. [NASDAQ: GOGO] gained 3.51% or 0.32 points to close at $9.14 with a heavy trading volume of 1194324 shares. The company report on October 28, 2020 that Gogo Inc. to Report Third Quarter 2020 Financial Results on Nov. 9, 2020.

Gogo Inc. (NASDAQ: GOGO), the leading global provider of broadband connectivity products and services for aviation, today announced it will release its financial results for the third quarter 2020 before the market opens on Nov. 9, 2020. The Company will host a conference call with financial analysts the same day at 8:30 a.m. ET.

Conference Call & Web CastA live web cast of the conference call, as well as a replay, will be available online on the Investor Relations section of the company’s website at http://ir.gogoair.com. Participants can also access the call by dialing +1 (844) 464-3940 (within the United States and Canada) or +1 (765) 507-2646 (international dialers) and entering conference ID number 2487652.

It opened the trading session at $8.85, the shares rose to $9.24 and dropped to $8.61, the range by which the price of stock traded the whole day. The daily chart for GOGO points out that the company has recorded 481.85% gains over the past six months. However, it is still -587.22% lower than its most recent low trading price.

If we look at the average trading volume of 6.43M shares, GOGO reached to a volume of 1194324 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Gogo Inc. [GOGO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOGO shares is $11.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GOGO stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Gogo Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on September 09, 2020. While these analysts kept the previous recommendation, ROTH Capital dropped their target price from $8 to $10. The new note on the price target was released on September 01, 2020, representing the official price target for Gogo Inc. stock. Previously, the target price had yet another raise to $10, while ROTH Capital analysts kept a Buy rating on GOGO stock.

The Average True Range (ATR) for Gogo Inc. is set at 0.74, with the Price to Sales ratio for GOGO stock in the period of the last 12 months amounting to 1.11.

Trading performance analysis for GOGO stock

Gogo Inc. [GOGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.13. With this latest performance, GOGO shares dropped by -1.14% in over the last four-week period, additionally plugging by 481.85% over the last 6 months – not to mention a rise of 48.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GOGO stock in for the last two-week period is set at 46.96, with the RSI for the last a single of trading hit 40.86, and the three-weeks RSI is set at 50.82 for Gogo Inc. [GOGO]. The present Moving Average for the last 50 days of trading for this stock 8.85, while it was recorded at 9.13 for the last single week of trading, and 4.51 for the last 200 days.

Gogo Inc. [GOGO]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Gogo Inc. [GOGO] shares currently have an operating margin of +4.39 and a Gross Margin at +29.58. Gogo Inc.’s Net Margin is presently recorded at -17.47.

Return on Total Capital for GOGO is now 4.74, given the latest momentum, and Return on Invested Capital for the company is -18.99. Additionally, GOGO Total Debt to Total Capital is recorded at 150.24, with Total Debt to Total Assets ending up at 98.21.

Reflecting on the efficiency of the workforce at the company, Gogo Inc. [GOGO] managed to generate an average of -$130,945 per employee. Receivables Turnover for the company is 6.47 with a Total Asset Turnover recorded at a value of 0.67.Gogo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.30.

Gogo Inc. [GOGO]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Gogo Inc. posted -0.28/share EPS, while the average EPS was predicted by analysts to be reported at -0.56/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GOGO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Gogo Inc. go to 10.00%.

An analysis of insider ownership at Gogo Inc. [GOGO]

There are presently around $379 million, or 48.90% of GOGO stock, in the hands of institutional investors. The top three institutional holders of GOGO stocks are: MUDRICK CAPITAL MANAGEMENT, L.P. with ownership of 8,726,814, which is approximately 0% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 4,426,999 shares of the stock with an approximate value of $40.44 million in GOGO stocks shares; and BLACKROCK INC., currently with $34.62 million in GOGO stock with ownership of nearly 6.812% of the company’s market capitalization.

Positions in Gogo Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 48 institutional holders increased their position in Gogo Inc. [NASDAQ:GOGO] by around 6,356,125 shares. Additionally, 81 investors decreased positions by around 10,372,509 shares, while 17 investors held positions by with 24,714,930 shares. The mentioned changes placed institutional holdings at 41,443,564 shares, according to the latest SEC report filing. GOGO stock had 22 new institutional investments in for a total of 2,086,974 shares, while 40 institutional investors sold positions of 2,614,651 shares during the same period.

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