We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Gogo (GOGO) Moves 14.9% Higher: Will This Strength Last?
Read MoreHide Full Article
Gogo (GOGO - Free Report) shares soared 14.9% in the last trading session to close at $14.40. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2% gain over the past four weeks.
The upside was primarily attributable to the successful delivery of the first 5G air-to-ground (ATG) connectivity using Gogo 5G chip. The end-to-end 5G call validates the Gogo 5G ATG system. It will provide customers with high-speed broadband for seamless video conferencing, streaming and other activities across multiple devices, with more than 300 aircraft being pre-provisioned for Gogo 5G connectivity.
This further complements the significant strides Gogo has already achieved in the 5G market, including the formal approval from the Federal Aviation Administration to manufacture state-of-the-art solutions, investment in a network of 170 5G towers, installation of a new ‘5G core’ at its data center and the development of a new 5G aircraft antenna.
This in-flight internet provider is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $220 million, up 115.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Gogo, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GOGO going forward to see if this recent jump can turn into more strength down the road.
Gogo is part of the Zacks Wireless National industry. United States Cellular (USM - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $60.33. USM has returned -2.4% in the past month.
For U.S. Cellular, the consensus EPS estimate for the upcoming report has changed -3% over the past month to $0.33. This represents a change of +65% from what the company reported a year ago. U.S. Cellular currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Gogo (GOGO) Moves 14.9% Higher: Will This Strength Last?
Gogo (GOGO - Free Report) shares soared 14.9% in the last trading session to close at $14.40. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2% gain over the past four weeks.
The upside was primarily attributable to the successful delivery of the first 5G air-to-ground (ATG) connectivity using Gogo 5G chip. The end-to-end 5G call validates the Gogo 5G ATG system. It will provide customers with high-speed broadband for seamless video conferencing, streaming and other activities across multiple devices, with more than 300 aircraft being pre-provisioned for Gogo 5G connectivity.
This further complements the significant strides Gogo has already achieved in the 5G market, including the formal approval from the Federal Aviation Administration to manufacture state-of-the-art solutions, investment in a network of 170 5G towers, installation of a new ‘5G core’ at its data center and the development of a new 5G aircraft antenna.
This in-flight internet provider is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $220 million, up 115.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Gogo, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GOGO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Gogo is part of the Zacks Wireless National industry. United States Cellular (USM - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $60.33. USM has returned -2.4% in the past month.
For U.S. Cellular, the consensus EPS estimate for the upcoming report has changed -3% over the past month to $0.33. This represents a change of +65% from what the company reported a year ago. U.S. Cellular currently has a Zacks Rank of #3 (Hold).