Gogo Inc. (GOGO) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of Gogo Inc. (NASDAQ:GOGO) from a hold rating to a buy rating in a research note issued to investors on Saturday.
Other analysts also recently issued reports about the stock. UBS AG restated a buy rating and set a $15.00 price target (up from $14.00) on shares of Gogo in a research report on Friday, May 5th. Zacks Investment Research upgraded shares of Gogo from a hold rating to a buy rating and set a $14.00 price target on the stock in a research report on Wednesday, May 3rd. Dougherty & Co boosted their price target on shares of Gogo from $16.00 to $17.50 and gave the stock a buy rating in a research report on Monday, May 1st. ValuEngine upgraded shares of Gogo from a sell rating to a hold rating in a research report on Tuesday, June 6th. Finally, Standpoint Research downgraded shares of Gogo from a buy rating to a hold rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Gogo has a consensus rating of Buy and a consensus price target of $15.50.
Gogo (NASDAQ:GOGO) opened at 12.82 on Friday. The firm’s market capitalization is $1.11 billion. The firm’s 50-day moving average is $11.81 and its 200 day moving average is $11.34. Gogo has a 12 month low of $8.28 and a 12 month high of $13.69.
Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Monday, August 7th. The technology company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates 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 business earned ($0.31) EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities analysts predict that Gogo will post ($1.94) earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC increased its stake in Gogo by 667.6% in the second quarter. Harbour Capital Advisors LLC now owns 2,296,811 shares of the technology company’s stock worth $199,203,000 after buying an additional 1,997,608 shares during the last quarter. Hodges Capital Management Inc. increased its stake in Gogo by 47.0% in the first quarter. Hodges Capital Management Inc. now owns 4,109,815 shares of the technology company’s stock worth $45,208,000 after buying an additional 1,314,245 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Gogo by 60.0% in the first quarter. Daiwa Securities Group Inc. now owns 605,000 shares of the technology company’s stock worth $6,655,000 after buying an additional 226,794 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Gogo during the first quarter worth approximately $1,678,000. Finally, Norges Bank acquired a new stake in Gogo during the fourth quarter worth approximately $1,095,000. Institutional investors and hedge funds own 63.71% of the company’s stock.
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).
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