An interesting stock that came up in some of our conversations today is Gogo Inc. (NASDAQ:GOGO). At current price of $5.66, the shares have already added 0.33 points (6.19% higher) from its previous close of $5.33. Should you buy or avoid them? The stock sets an active trading volume day with a reported 361483 contracts so far this session. GOGO shares had a relatively better volume day versus average trading capacity of 1.54 million shares, but with a 54.79 million float and a -5.33% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GOGO stock indicates that the average analyst price target is $6.8 per share. This means the stock has a potential increase of 20.14% from where the GOGO share price has been trading recently.
During the recent trading session for Gogo Inc. (NASDAQ:GOGO), the company witnessed their stock drop by $-0.1 over a week and surge $0.09 from the price 20 days ago. When compared to their established 52-week high of $7.23, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 09/18/19. The recent low of $3.55 stood for a -21.72% since 01/17/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.01 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Gogo Inc., the two-week RSI stands at 47.63. This figure suggests that GOGO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current GOGO readings is similarly very revealing as it has a stochastic reading of 7.97% at this stage. This figure means that GOGO share price today is being overbought.
Technical chart claims that Gogo Inc. (GOGO) would settle between $5.53/share to $5.72/share level. However, if the stock price goes below the $5.23 mark, then the market for Gogo Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $5.12 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.19. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at ROTH Capital, assumed coverage of GOGO assigning Buy rating, according to their opinion released on May 13. William Blair analysts bumped their rating on Gogo Inc. (NASDAQ:GOGO) stock from Mkt Perform to Outperform in a separate flash note issued to investors on May 10. Analysts at Cowen released an upgrade from Market Perform to Outperform for the stock, in a research note that dated back to April 18.
GOGO equity has an average rating of 2.5, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Gogo Inc. (NASDAQ:GOGO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, GOGO stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 26.7. Gogo Inc. current P/B ratio of 0 means it is trading at a discount against its industry’s 1.6.
Gogo Inc. (GOGO)’s current-quarter revenues are projected to climb by nearly -4.8% to hit $206770, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -8.2% from $893760 to a noteworthy $820750. At the other end of the current quarter income statement, Gogo Inc. is expected to see its adjusted earnings surge by roughly 31.1% to hit $-0.51 per share. For the fiscal year, GOGO’s earnings are projected to climb by roughly -6.4% to hit $-2.15 per share.