Gogo Inc. (NASDAQ:GOGO) shares dropped 1.1% during trading on Friday . The stock traded as low as $12.35 and last traded at $12.39, with a volume of 422,710 shares traded. The stock had previously closed at $12.53.

GOGO has been the topic of several recent research reports. Dougherty & Co raised their target price on shares of Gogo from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, May 9th. Standpoint Research started coverage on shares of Gogo in a research report on Thursday, June 23rd. They set a “buy” rating and a $14.00 price target on the stock. William Blair reiterated a “buy” rating on shares of Gogo in a research report on Monday, June 6th. Zacks Investment Research upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Gogo from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $13.60.

The company’s market cap is $1.06 billion. The firm’s 50 day moving average price is $10.34 and its 200 day moving average price is $10.22.

Gogo (NASDAQ:GOGO) last released its earnings results on Thursday, August 4th. The company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.11. The business had revenue of $147.50 million for the quarter, compared to analysts’ expectations of $141.46 million. The firm’s revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) EPS. Equities research analysts expect that Gogo Inc. will post ($1.52) EPS for the current fiscal year.

In other Gogo news, Director Charles C. Townsend purchased 52,867 shares of the stock in a transaction dated Tuesday, August 30th. The shares were bought at an average price of $11.84 per share, with a total value of $625,945.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Small purchased 50,000 shares of the stock in a transaction dated Monday, August 8th. The stock was acquired at an average cost of $10.37 per share, for a total transaction of $518,500.00. Following the transaction, the insider now owns 244,832 shares of the company’s stock, valued at $2,538,907.84. The disclosure for this purchase can be found here.

Gogo Inc is a holding company. The Company is a provider of in-flight connectivity and wireless entertainment solutions for the aviation industry across the world. The Company 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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