Gogo (NASDAQ:GOGO) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Gogo (NASDAQ:GOGO) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

A number of other analysts have also weighed in on GOGO. Morgan Stanley reduced their price objective on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Zacks Research lowered Gogo from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings cut Gogo from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Gogo in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Gogo currently has an average rating of “Reduce” and an average price target of $8.50.

Gogo Stock Up 7.2%

NASDAQ GOGO opened at $2.84 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.73 and a debt-to-equity ratio of 6.74. Gogo has a 52 week low of $2.45 and a 52 week high of $11.11. The firm has a market capitalization of $384.85 million, a price-to-earnings ratio of 284.00 and a beta of 1.03. The company has a fifty day moving average of $3.33 and a two-hundred day moving average of $3.92.

Gogo (NASDAQ:GOGO) last announced its earnings results on Thursday, August 6th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $222.81 million during the quarter, compared to analysts’ expectations of $229.35 million. Gogo had a negative net margin of 0.09% and a positive return on equity of 22.55%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. On average, analysts predict that Gogo will post 0.14 earnings per share for the current year.

Institutional Trading of Gogo

A number of large investors have recently modified their holdings of the company. Corient Private Wealth LP bought a new position in Gogo in the second quarter worth approximately $172,000. Amundi raised its position in Gogo by 59.9% during the 2nd quarter. Amundi now owns 66,931 shares of the technology company’s stock valued at $207,000 after purchasing an additional 25,086 shares in the last quarter. California State Teachers Retirement System raised its position in Gogo by 228.7% during the 2nd quarter. California State Teachers Retirement System now owns 226,374 shares of the technology company’s stock valued at $702,000 after purchasing an additional 157,499 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Gogo in the 2nd quarter worth $41,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Gogo by 370.1% in the 2nd quarter. Hsbc Holdings PLC now owns 165,688 shares of the technology company’s stock worth $518,000 after buying an additional 130,446 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.