Brokerages expect that Gogo Inc (NASDAQ:GOGO) will announce $200.98 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Gogo’s earnings. The lowest sales estimate is $194.66 million and the highest is $209.49 million. Gogo reported sales of $227.46 million during the same quarter last year, which would suggest a negative year over year growth rate of 11.6%. The company is scheduled to issue its next quarterly earnings report on Wednesday, August 14th.

On average, analysts expect that Gogo will report full year sales of $824.21 million for the current year, with estimates ranging from $802.83 million to $847.00 million. For the next year, analysts anticipate that the firm will report sales of $900.89 million, with estimates ranging from $860.30 million to $949.04 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Gogo.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.31. The firm had revenue of $199.55 million during the quarter, compared to the consensus estimate of $198.00 million. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) EPS.

GOGO has been the subject of several recent research reports. Northland Securities reissued a “sell” rating and issued a $1.50 price target on shares of Gogo in a research note on Friday, February 22nd. BidaskClub cut Gogo from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. William Blair raised Gogo from a “market perform” rating to an “outperform” rating in a report on Friday, May 10th. Zacks Investment Research raised Gogo from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a report on Thursday, February 21st. Finally, Cowen raised Gogo from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $4.25 to $7.00 in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $7.04.

In related news, Director Charles C. Townsend purchased 277,405 shares of Gogo stock in a transaction on Wednesday, February 27th. The shares were purchased at an average price of $4.36 per share, for a total transaction of $1,209,485.80. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles C. Townsend purchased 64,389 shares of Gogo stock in a transaction on Monday, May 13th. The stock was bought at an average price of $5.48 per share, for a total transaction of $352,851.72. The disclosure for this purchase can be found here. 36.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc grew its position in shares of Gogo by 3.7% in the 3rd quarter. Vanguard Group Inc now owns 5,245,544 shares of the technology company’s stock valued at $27,225,000 after buying an additional 185,486 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Gogo by 220.8% during the 3rd quarter. Morgan Stanley now owns 545,784 shares of the technology company’s stock valued at $2,832,000 after purchasing an additional 375,640 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Gogo by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,245,544 shares of the technology company’s stock valued at $27,225,000 after purchasing an additional 185,486 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Gogo during the 4th quarter valued at about $46,000. Finally, Cooper Haims Advisors LLC bought a new position in shares of Gogo during the 1st quarter valued at about $186,000. Hedge funds and other institutional investors own 57.61% of the company’s stock.

Shares of NASDAQ GOGO traded down $0.24 during trading hours on Friday, hitting $5.55. The stock had a trading volume of 30,948 shares, compared to its average volume of 1,523,087. The stock has a market cap of $518.90 million, a price-to-earnings ratio of -3.04 and a beta of 1.35. Gogo has a 52 week low of $2.64 and a 52 week high of $7.82.

About Gogo

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).

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Earnings History and Estimates for Gogo (NASDAQ:GOGO)

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