Gogo Inc. (NASDAQ:GOGO) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
Other equities analysts have also issued reports about the stock. Dougherty & Co lifted their target price on shares of Gogo from $17.50 to $19.00 and gave the company a “buy” rating in a report on Sunday, May 7th. UBS Group AG reaffirmed a “buy” rating and set a $15.00 target price (up from $14.00) on shares of Gogo in a report on Friday, May 5th. Zacks Investment Research raised shares of Gogo from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Wednesday, May 3rd. Standpoint Research lowered shares of Gogo from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, ValuEngine raised shares of Gogo from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Gogo currently has an average rating of “Hold” and an average price target of $15.50.
Gogo (GOGO) opened at 12.47 on Friday. The firm has a 50 day moving average of $11.98 and a 200-day moving average of $11.47. Gogo has a 52-week low of $8.56 and a 52-week high of $13.69. The company’s market capitalization is $1.08 billion.
Gogo (NASDAQ:GOGO) last posted its earnings results on Monday, August 7th. The technology company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.49) by $0.07. The firm had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $167.63 million. Gogo’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the business posted ($0.31) earnings per share. Equities analysts expect that Gogo will post ($2.02) EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This piece was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/2800907/gogo-inc-gogo-stock-rating-lowered-by-bidaskclub.html.
A number of large investors have recently added to or reduced their stakes in the stock. Arxis Securities LLC bought a new stake in Gogo during the first quarter worth about $112,000. Principal Financial Group Inc. bought a new stake in Gogo during the first quarter worth about $114,000. Parkwood LLC boosted its stake in Gogo by 3.4% in the first quarter. Parkwood LLC now owns 11,089 shares of the technology company’s stock worth $122,000 after buying an additional 363 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Gogo by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 11,623 shares of the technology company’s stock worth $107,000 after buying an additional 73 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Gogo by 1.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,775 shares of the technology company’s stock worth $141,000 after buying an additional 180 shares in the last quarter. 63.71% of the stock is currently owned by hedge funds and other institutional investors.
Gogo Company Profile
Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA).
Receive News & Ratings for Gogo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo Inc. and related companies with MarketBeat.com's FREE daily email newsletter.