Stock on Demand This Week: Gogo Inc. (GOGO)

Gogo Inc. (NASDAQ:GOGO) saw an upside of 2.44% to $16.61 after adding $0.39 on Wednesday. The 5-day average trading volume is 919,566 shares of the company’s common stock. It has gained $16.55 in the past week. An average of 4,619,042 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,406,077.

GOGO’s 1-month performance is 29.14% or $3.82 on its low of $11.90 reached on 09/20/21. The company’s shares have touched a 52-week low of $8.02 and high of $19.23, with the stock’s rally to the 52-week high happening on 10/01/21. YTD, GOGO has achieved 68.43% or $6.75. However, the current price is down -13.60%% from the 52-week high price.


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Insider Transactions

On Jun 08, 127 days have gone by since the last insider trading activity for Gogo Inc. (GOGO). Bayer Michael P. (SVP, Controller & CAO) most recently sold 6,675 shares at $14.45 per share on Jun 08. This transaction cost the insider $96,430. SVP, Controller & CAO, Bayer Michael P., sold 8,000 shares at a price of $10.85 on Dec 07. Then, on Nov 24, 10% Owner Mudrick Capital Management, L. sold 622,898 shares at a price of $10.35 per share. This transaction amounted to $6,448,453.

Valuation Metrics

Gogo Inc. (GOGO) has a trailing price-to-earnings (P/E) ratio of 17.20 for the broader industry and 30.26 for the sector.GOGO stock has a beta of 1.04. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 6.11 while the price to cash flow ratio at 7.67.

Gogo Inc.’s quick ratio for the period ended June 29 was 0.90, with the current ratio over the same period at 1.00 meaning that GOGO stock is not able to fulfill its debt obligations. In terms of profitability, the gross margin trailing 12 months is 68.00%. The trailing 12-month EBITDA margin is 33.56% while for the period ending June 29; Gogo Inc.’s operating margin was 3.80%. The firm’s gross profit as reported stood at $185.35 million against revenue of $269.72 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -17.31% to $82.38 million, while revenue of $73.87 million was 10.33% off the previous quarter. Analysts expected GOGO to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.63, representing a -1,160.00% surprise. EBITDA for the quarter stood at more than $34.34 million. GOGO stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 929.32 million, with total debt at $849.86 million. Shareholders hold equity totaling $109.7 million

Technical Picture

Let’s look briefly at Gogo Inc. (GOGO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 58.84% to suggest the stock is trending Neutral, with historical volatility in this time period at 106.88%.

The stock’s 5-day moving average is $16.00, reflecting a +9.35% or $1.40 change from its current price. GOGO is currently trading +34.15% above its 20-day SMA, +36.50% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +56.75% and +68.35% respectively.

Stochastic %K and %D was 56.36% and 53.79% and the average true range (ATR) pointed at 1.09. The RSI (14) points at 59.66%, while the 14-day stochastic is at 59.79% with the period’s ATR at 1.03. The stock’s 9-day MACD Oscillator is pointing at -0.25 and 0.21 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Gogo Inc. (NASDAQ: GOGO), JP Morgan upgraded it to a Neutral rating. They previously had an Underweight rating on the stock. Analysts offering their rating for GOGO stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate GOGO as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.

What is GOGO’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $12.00 and a high of $23.00, with their median price target at $17.00. Looking at these predictions, the average price target given by analysts is for Gogo Inc. (GOGO) stock is $17.25.

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