Gogo Inc. (GOGO) Stock Rating Lowered by BidaskClub

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.

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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).

Analyst Recommendations for Gogo (NASDAQ:GOGO)

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