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

BidaskClub upgraded shares of Gogo (NASDAQ:GOGO) from a sell rating to a hold rating in a research note published on Tuesday, BidAskClub reports.

Several other equities research analysts also recently issued reports on GOGO. Zacks Investment Research upgraded shares of Gogo from a hold rating to a buy rating and set a $4.50 price objective on the stock in a research note on Wednesday, August 7th. Roth Capital initiated coverage on shares of Gogo in a research note on Monday, May 13th. They issued a buy rating and a $10.00 price objective on the stock. William Blair upgraded shares of Gogo from a market perform rating to an outperform rating in a research note on Friday, May 10th. Finally, Cowen upgraded shares of Gogo from a market perform rating to an outperform rating and raised their price objective for the stock from $4.25 to $7.00 in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Gogo presently has an average rating of Hold and a consensus target price of $5.75.

Shares of Gogo stock opened at $4.26 on Tuesday. The company’s fifty day simple moving average is $4.27 and its 200-day simple moving average is $4.58. The company has a market cap of $413.92 million, a price-to-earnings ratio of -2.33 and a beta of 0.97. Gogo has a 1 year low of $2.64 and a 1 year high of $7.82.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.12. The company had revenue of $213.70 million during the quarter, compared to analyst estimates of $199.62 million. The company’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.47) EPS. On average, analysts anticipate that Gogo will post -1.83 earnings per share for the current year.

In other news, Director Charles C. Townsend bought 100,000 shares of Gogo stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $4.43 per share, with a total value of $443,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 41.50% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Kavar Capital Partners LLC bought a new position in Gogo in the second quarter worth $25,000. Aperio Group LLC bought a new position in Gogo in the second quarter worth $40,000. Coatue Management LLC bought a new position in Gogo in the second quarter worth $44,000. Metropolitan Life Insurance Co NY bought a new position in Gogo in the first quarter worth $73,000. Finally, Tower Research Capital LLC TRC bought a new position in Gogo in the second quarter worth $77,000. 59.13% of the stock is owned by hedge funds and other institutional investors.

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).

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