Gogo Inc. (NASDAQ:GOGO) finished Friday with an addition of $0.09 to close at $12.86, an upside of 0.70 percent. An average of 1,670,580 shares of common stock have been traded in the last five days. There was a fall of -$2.52 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 775,880 shares traded, while the 50-day average volume stands at 628,914.
GOGO stock has decreased by -25.84% in the last month. The company shares reached their 1-month lowest point of $12.10 on 08/07/23. With the stock rallying to its 52-week high on 07/21/23, shares of the company touched a low of $11.57 and a high of $17.94 in 52 weeks. It has reached a new high 14 times so far this year and lost -12.87% or -$1.90 in price. In spite of this, the price is down -28.32% from the 52-week high.
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Valuation Metrics
Gogo Inc. (GOGO) has a trailing price-to-earnings (P/E) ratio of 19.02. The stock’s beta is 1.36. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.94, and the price-to-cash flow ratio at 27.59.
Financial Health
The quick ratio of Gogo Inc. for the three months ended June 29 was 3.80, and the current ratio was 4.60, indicating that the company is able to meet its debt obligations. Gogo Inc.’s EBITDA margin for the year ending June 29 is 38.34%, while its operating margin for the same period stands at 34.00%. Its gross profit as reported stood at $268.17 million compared to revenue of $404.07 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Gogo Inc.’s return on assets was 12.20%.
Earnings Surprise
For the three-month period that ended June 29, Gogo Inc. had $590.05 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $89.85 million in the quarter, while revenues were grew 75.49%. The analyst consensus anticipated Gogo Inc.’s latest quarter earnings to come in at $0.14 per share, but it turned out to be $0.67, a 378.60% surprise. For the quarter, EBITDA amounted to $39.46 million. Shareholders own equity worth $128.7 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Gogo Inc. (GOGO) price momentum. RSI 9-day as of the close on 11 August was 20.80%, suggesting the stock is oversold, with historical volatility in this time frame at 103.57%.
As of today, GOGO’s price is $12.74 -16.38% or -$2.52 from its 5-day moving average. GOGO is currently trading -24.75% lower than its 20-day SMA and -12.81% lower than its 100-day SMA. However, the stock’s current price level is -14.55% below the SMA50 and -8.66% below the SMA200.
The stochastic %K and %D were 12.30% and 11.28%, respectively, and the average true range (ATR) was 0.70. With the 14-day stochastic at 13.94% and the average true range at 0.67, the RSI (14) stands at 25.00%. The stock has reached -0.99 on the 9-day MACD Oscillator while the 14-day reading was at -1.98.
Analyst Ratings
Morgan Stanley upgraded Gogo Inc. (NASDAQ: GOGO) to a an Equal-weight rating in its most recent analyst report. Previously, the stock was rated as an Underweight. The consensus rating for Gogo Inc. (GOGO) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell GOGO, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is GOGO’s price target for the next 12 months?
Analysts predict a range of price targets between $14.00 and $26.00, with a median target of $18.00. Taking a look at these predictions, the average price target given by analysts for Gogo Inc. (GOGO) stock is $18.50.
