Gogo Inc. (NASDAQ:GOGO) Stock Now Rated “Hold” by Wall Street Analysts

Gogo Inc. (NASDAQ:GOGO) has been given a consensus recommendation of “Hold” by the five brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $8.50.

GOGO has been the topic of several research analyst reports. Wall Street Zen cut Gogo from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings lowered Gogo from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Roth Capital reaffirmed a “buy” rating on shares of Gogo in a research report on Friday, August 7th. Finally, Zacks Research upgraded Gogo from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th.

Gogo Stock Performance

Shares of NASDAQ:GOGO opened at $2.17 on Friday. The firm has a market cap of $294.06 million, a PE ratio of 217.00 and a beta of 1.22. The firm’s 50 day simple moving average is $2.43 and its 200-day simple moving average is $3.40. Gogo has a one year low of $1.96 and a one year high of $9.93. The company has a debt-to-equity ratio of 6.74, a quick ratio of 1.21 and a current ratio of 1.73.

Gogo (NASDAQ:GOGO) last posted its quarterly 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 company had revenue of $222.81 million for the quarter, compared to the consensus estimate of $229.35 million. Gogo had a negative net margin of 0.09% and a positive return on equity of 22.55%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. As a group, equities analysts predict that Gogo will post 0.03 EPS for the current year.

Hedge Funds Weigh In On Gogo

Several institutional investors have recently made changes to their positions in GOGO. WINTON GROUP Ltd boosted its stake in shares of Gogo by 43.0% during the second quarter. WINTON GROUP Ltd now owns 44,900 shares of the technology company’s stock valued at $139,000 after purchasing an additional 13,500 shares in the last quarter. Engineers Gate Manager LP increased its holdings in Gogo by 10.8% during the second quarter. Engineers Gate Manager LP now owns 54,316 shares of the technology company’s stock valued at $168,000 after buying an additional 5,282 shares during the period. Baird Financial Group Inc. purchased a new position in Gogo during the second quarter valued at approximately $174,000. Corient Private Wealth LP purchased a new position in Gogo during the second quarter valued at approximately $172,000. Finally, Amundi raised its stake in Gogo by 59.9% in the second quarter. Amundi now owns 66,931 shares of the technology company’s stock worth $207,000 after buying an additional 25,086 shares in the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

About Gogo

Gogo Inc is an aviation connectivity and broadband services company that provides internet access, entertainment, and communications solutions for business and commercial aircraft. Its offerings are designed to help passengers and flight crews stay connected while in the air through a combination of air-to-ground and satellite-based technologies.

Gogo’s business aviation portfolio includes the AVANCE connectivity platform, which supports in-flight Wi-Fi and related services, as well as equipment, software, and network management solutions for private and business aircraft.