Investment analysts at Northland Securities assumed coverage on shares of Gogo Inc. (NASDAQ:GOGO) in a research note issued to investors on Tuesday. The brokerage set an “underperform” rating on the technology company’s stock.

GOGO has been the topic of a number of other reports. BidaskClub downgraded shares of Gogo from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. Standpoint Research downgraded shares of Gogo from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. ValuEngine raised shares of Gogo from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Raymond James Financial, Inc. started coverage on shares of Gogo in a research report on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $15.40.

Shares of Gogo (NASDAQ:GOGO) opened at 14.20 on Tuesday. Gogo has a 12-month low of $8.56 and a 12-month high of $14.76. The stock’s market capitalization is $1.23 billion. The company has a 50-day moving average of $13.41 and a 200 day moving average of $12.32.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Monday, August 7th. The technology company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.07). The business had revenue of $172.80 million for the quarter, compared to analyst estimates of $167.63 million. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. Analysts predict that Gogo will post ($2.02) earnings per share for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of GOGO. Teachers Advisors LLC lifted its stake in Gogo by 4.2% during the 4th quarter. Teachers Advisors LLC now owns 90,045 shares of the technology company’s stock valued at $830,000 after acquiring an additional 3,628 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in Gogo by 1.4% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 12,775 shares of the technology company’s stock valued at $141,000 after acquiring an additional 180 shares during the period. First Trust Advisors LP bought a new position in Gogo during the 1st quarter valued at about $564,000. Bank of New York Mellon Corp lifted its stake in Gogo by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 231,031 shares of the technology company’s stock valued at $2,542,000 after acquiring an additional 4,908 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in Gogo by 17.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 22,477 shares of the technology company’s stock valued at $247,000 after acquiring an additional 3,342 shares during the period. Institutional investors and hedge funds own 66.51% 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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