Gogo (NASDAQ:GOGO) announces a new price target of $26.00 on Cowen

0

Gogo (NASDAQ:GOGO- received rating) Its price target was raised to $26.00 by Cowen equity analysts in a note issued to investors on Tuesday. Stock Target Advisor reports. Cowen’s price target would suggest potential upside of 57.96% from the stock’s previous close.

Separately, TheStreet upgraded Gogo from a “d” rating to a “c” rating in a report Tuesday, May 17. One investment analyst has assigned a sell rating to the stock, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target of $20.40.

Gogo stock up 3.7%

NASDAQ GOGO shares rose $0.58 during trading hours on Tuesday to hit $16.46. 28,332 shares of hands traded, compared to its average volume of 527,257. The company has a market cap of $1.84 billion, a P/E of 8.06 and a beta of 1.08. Gogo has a 52-week low of $11.68 and a 52-week high of $23.69. The company’s 50-day simple moving average is $17.01 and its 200-day simple moving average is $17.11.

Insiders place their bets

In other Gogo news, EVP Marguerite M. Elias sold 30,000 shares of Gogo in a transaction that took place Tuesday, May 24th. The stock sold at an average price of $18.79 for a total value of $563,700.00. Following the transaction, the Executive Vice President now directly owns 54,791 shares of the Company, valued at approximately $1,029,522.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In addition, CAO Jessica Betjemann sold 8,000 shares of the company’s stock in a transaction that took place on Thursday, May 26th. The stock sold at an average price of $19.81 for a total transaction of $158,480.00. Following the transaction, the Chief Accounting Officer now directly owns 25,528 shares of the Company, valued at $505,709.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In addition, EVP Marguerite M. Elias sold 30,000 shares of the company’s stock in a transaction that took place on Tuesday, May 24th. The shares sold at an average price of $18.79 for a total value of $563,700.00. Following the transaction, the Executive Vice President now directly owns 54,791 shares of the Company, valued at $1,029,522.89. The disclosure for this sale can be found here. Insiders own 32.55% of the company’s stock.

Hedge funds rely on Gogo

advertisement investment trends

Potential gold rush for investors triggered by US vs. China trade war

At the moment, China has a stranglehold on the US military. They have a monopoly on one of our MOST CRITICAL defense elements. But thanks to executive orders from both Biden and Trump…

Hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can increased its stake in Gogo shares by 41.0% in the first quarter. Great West Life Assurance Co. Can now own 2,178 shares of the $44,000 tech company, having bought an additional 633 shares during the period. Exchange Traded Concepts LLC acquired a new interest in Gogo stock valued at approximately $73,000 during the first quarter. O Dell Group LLC acquired a new interest in Gogo stock valued at approximately $76,000 during the first quarter. Zürcher Kantonalbank Zürcher Kantonalbank increased its position in Gogo shares by 42.2% in the fourth quarter. Zurich Cantonal Bank Zurich Cantonal Bank now owns 6,770 shares of the tech company, valued at $92,000, after buying another 2,010 shares last quarter. Finally, Parkside Investments LLC acquired a new interest in Gogo stock valued at approximately $95,000 during the first quarter. 71.42% of the shares are owned by hedge funds and other institutional investors.

Gogo company profile

(received rating)

Gogo Inc, through its subsidiaries, provides broadband connectivity services to the airline industry in the United States and internationally. The Company operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA) segments. The company designs, builds and operates air-to-ground networks, develops and services in-flight systems using proprietary hardware and software, and provides customizable connectivity and wireless entertainment services.

Further reading

Stock Target Advisor logo

This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Gogo, here’s what you should hear.

MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market takes hold… and Gogo wasn’t on the list.

While Gogo is currently rated a Hold by analysts, top analysts believe these five stocks are better buys.

Check out the five stocks here

Share.

Comments are closed.