Standpoint Research Lowers Gogo Inc. (GOGO) to Hold
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.
TRADEMARK VIOLATION WARNING: This news story was originally posted by Daily Political and is owned by of Daily Political. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/08/07/standpoint-research-lowers-gogo-inc-gogo-to-hold.html.
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).
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.