Gogo (NASDAQ:GOGO) Upgraded to “Hold” at BidaskClub

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Gogo (NASDAQ:GOGO) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday, September 18th.

A number of other research firms have also recently commented on GOGO. Raymond James cut Gogo from an “outperform” rating to a “market perform” rating and set a $15.00 price objective for the company. in a research report on Tuesday, July 24th. ValuEngine upgraded Gogo from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Morgan Stanley dropped their price objective on Gogo from $7.00 to $3.00 and set a “positive” rating for the company in a research report on Wednesday, May 30th. William Blair cut Gogo from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 17th. Finally, Zacks Investment Research upgraded Gogo from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Gogo has a consensus rating of “Hold” and an average target price of $8.38.

Gogo stock traded up $0.07 during midday trading on Tuesday, reaching $5.50. 1,743,591 shares of the company were exchanged, compared to its average volume of 1,509,628. The stock has a market cap of $453.35 million, a PE ratio of -2.53 and a beta of 1.13. Gogo has a 1 year low of $3.52 and a 1 year high of $11.75. The company has a current ratio of 2.01, a quick ratio of 1.43 and a debt-to-equity ratio of -4.44.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.27. The company had revenue of $227.50 million for the quarter, compared to analysts’ expectations of $207.64 million. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.56) EPS. On average, equities analysts predict that Gogo will post -2.16 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of GOGO. First Midwest Bank Trust Division grew its holdings in Gogo by 477.0% in the 2nd quarter. First Midwest Bank Trust Division now owns 435,931 shares of the technology company’s stock valued at $2,118,000 after buying an additional 360,384 shares during the period. Gabelli Funds LLC grew its holdings in Gogo by 7.7% in the 2nd quarter. Gabelli Funds LLC now owns 1,991,000 shares of the technology company’s stock valued at $9,676,000 after buying an additional 141,800 shares during the period. Gamco Investors INC. ET AL grew its holdings in Gogo by 13.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,209,800 shares of the technology company’s stock valued at $5,880,000 after buying an additional 139,300 shares during the period. Bank of America Corp DE grew its holdings in Gogo by 4.3% in the 2nd quarter. Bank of America Corp DE now owns 1,715,165 shares of the technology company’s stock valued at $8,336,000 after buying an additional 70,154 shares during the period. Finally, Teton Advisors Inc. purchased a new stake in Gogo in the 2nd quarter valued at about $292,000. Institutional investors own 67.59% of the company’s stock.

Gogo Company Profile

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).

See Also: Cash Flow

Analyst Recommendations for Gogo (NASDAQ:GOGO)

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