Gogo Inc. (NASDAQ:GOGO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

According to Zacks, “Gogo is the leading provider of in-flight connectivity and wireless entertainment solutions for the global aviation industry. They currently provide services on approximately 9,600 aircraft, which represents more than 20% of the world’s total commercial and business jet aircraft. Gogo has partnerships with 14 commercial airlines and is installed on more than 2,500 commercial aircraft. Nearly 7,000 business aircraft are also flying with its solutions, including the world’s largest fractional ownership fleets. Gogo also is a factory option at every major business aircraft manufacturer. Gogo is headquartered in Chicago, IL, with additional facilities in Broomfield, CO, and various locations overseas. “

A number of other equities research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Gogo from a “hold” rating to a “buy” rating in a research note on Saturday. Standpoint Research cut shares of Gogo from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Raymond James Financial, Inc. assumed coverage on shares of Gogo in a research note on Wednesday, May 31st. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, Dougherty & Co lifted their price objective on shares of Gogo from $17.50 to $19.00 and gave the company a “buy” rating in a research note on Sunday, May 7th. 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 currently has a consensus rating of “Buy” and a consensus price target of $15.50.

Gogo (GOGO) opened at 12.55 on Monday. Gogo has a one year low of $8.56 and a one year high of $13.69. The stock has a 50 day moving average of $11.91 and a 200-day moving average of $11.37. The stock’s market cap is $1.08 billion.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Monday, August 7th. The technology company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.07. The company had revenue of $172.80 million for the quarter, compared to analyst estimates of $167.63 million. During the same quarter in the prior year, the company posted ($0.31) EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Analysts anticipate that Gogo will post ($1.99) EPS for the current year.

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A number of large investors have recently modified their holdings of GOGO. Blair William & Co. IL boosted its stake in shares of Gogo by 1.3% in the second quarter. Blair William & Co. IL now owns 237,031 shares of the technology company’s stock valued at $2,733,000 after buying an additional 3,102 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Gogo by 3.0% in the second quarter. Gamco Investors INC. ET AL now owns 1,032,600 shares of the technology company’s stock valued at $11,906,000 after buying an additional 29,900 shares during the period. Legal & General Group Plc boosted its stake in shares of Gogo by 3.8% in the second quarter. Legal & General Group Plc now owns 15,326 shares of the technology company’s stock valued at $178,000 after buying an additional 556 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gogo by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 244,268 shares of the technology company’s stock valued at $2,817,000 after buying an additional 13,237 shares during the period. Finally, S. Muoio & CO. LLC boosted its stake in shares of Gogo by 22.9% in the second quarter. S. Muoio & CO. LLC now owns 258,010 shares of the technology company’s stock valued at $2,975,000 after buying an additional 48,000 shares during the period. Hedge funds and other institutional investors 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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