Gogo Inc. (NASDAQ: GOGO) stock fell -1.22% on Tuesday to $14.61 against a previous-day closing price of $14.79. With 0.65 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.49 million shares. During the session, the Telecom Services company that operates in wider Communication Services sector, reached to the highest price of $15.03 whereas the lowest price it dropped to was $14.40. The 52-week range on GOGO shows that it touched its highest point at $21.78 and its lowest point at $11.57 during that stretch. It currently has a 1-year price target of $19.90. Beta for the stock currently stands at 1.31.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GOGO was up-trending over the past week, with a rise of 5.41%, but this was up by 6.64% over a month. Three-month performance dropped to -4.70% while six-month performance fell -2.08%. The stock lost -18.88% in the past year, while it has lost -1.02% so far this year. A look at the trailing 12-month EPS for GOGO yields 0.68 with Next year EPS estimates of 0.68. For the next quarter, that number is 0.13. This implies an EPS growth rate of -44.20% for this year and 16.38% for next year. EPS is expected to grow by 6.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 18.40%.
Float and Shares Shorts:
At present, 129.14 million GOGO shares are outstanding with a float of 95.45 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.29 million, which was 3.34% higher than short shares on Mar 30, 2023. In addition to Mr. Oakleigh Thorne as the firm’s Chairman & CEO, Mr. Sergio A. Aguirre serves as its Pres & COO.
Through their ownership of 66.12% of GOGO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 79.64% of GOGO, in contrast to 21.02% held by mutual funds. Shares owned by individuals account for 19.92%. As the largest shareholder in GOGO with 7.00% of the stake, BlackRock Fund Advisors holds 8,952,607 shares worth 8,952,607. A second-largest stockholder of GOGO, The Vanguard Group, Inc., holds 5,547,822 shares, controlling over 4.34% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in GOGO, holding 4,141,590 shares or 3.24% stake. With a 3.67% stake in GOGO, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 4,697,504 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.51% of GOGO stock, is the second-largest Mutual Fund holder. It holds 1,931,306 shares valued at 25.9 million. Fidelity Small Cap Growth Fund holds 1.30% of the stake in GOGO, owning 1,665,635 shares worth 22.34 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, GOGO reported revenue of $97.84M and operating income of $32.34M. The EBITDA in the recently reported quarter was $35.73M and diluted EPS was $0.17.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GOGO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GOGO analysts setting a high price target of $26.00 and a low target of $15.00, the average target price over the next 12 months is $19.70. Based on these targets, GOGO could surge 77.96% to reach the target high and rise by 2.67% to reach the target low. Reaching the average price target will result in a growth of 34.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GOGO stock several times over the past three months with 16 Buys and 16 Sells. In these transactions, 214,267 shares were bought while 88,655 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 27 over the past year. The total number of shares bought during that period was 535,060 while 214,821 shares were sold.