Standpoint Research downgraded shares of Gogo Inc. (NASDAQ:GOGO) from a buy rating to a hold rating in a research note released on Friday, MarketBeat Ratings reports.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Gogo from a hold rating to a buy rating and set a $14.00 target price on the stock in a report on Wednesday, May 3rd. Dougherty & Co increased their target price on shares of Gogo from $16.00 to $17.50 and gave the stock a buy rating in a report on Monday, May 1st. ValuEngine upgraded shares of Gogo from a sell rating to a hold rating in a report on Tuesday, June 6th. Raymond James Financial, Inc. began coverage on shares of Gogo in a report on Wednesday, May 31st. They issued an outperform rating and a $15.00 price target on the stock. Finally, BidaskClub cut shares of Gogo from a hold rating to a sell rating in a report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $15.50.

Shares of Gogo (GOGO) traded down 2.29% on Friday, reaching $12.82. 2,231,231 shares of the company were exchanged. The company’s 50-day moving average is $11.81 and its 200-day moving average is $11.34. Gogo has a 52 week low of $8.28 and a 52 week high of $13.69. The company’s market capitalization is $1.11 billion.

Gogo (NASDAQ:GOGO) last issued its earnings results on Monday, August 7th. The technology company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by $0.07. The business had revenue of $172.80 million for the quarter, compared to the consensus estimate of $167.63 million. During the same quarter last year, the firm posted ($0.31) EPS. Gogo’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities analysts expect that Gogo will post ($1.94) EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. 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. Arxis Securities LLC purchased a new stake in Gogo during the first quarter worth $112,000. Principal Financial Group Inc. purchased a new stake in Gogo during the first quarter worth $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. 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. Institutional investors and hedge funds own 63.71% of the company’s stock.

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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