Gogo Inc. (NASDAQ:GOGO) Upgraded at Zacks Investment Research
Gogo Inc. (NASDAQ:GOGO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Gogo is the leading provider of in-flight connectivity and wireless entertainment solutions for the global aviation industry. They currently provide services on approximately 9,600 aircraft, which represents more than 20% of the world’s total commercial and business jet aircraft. Gogo has partnerships with 14 commercial airlines and is installed on more than 2,500 commercial aircraft. Nearly 7,000 business aircraft are also flying with its solutions, including the world’s largest fractional ownership fleets. Gogo also is a factory option at every major business aircraft manufacturer. Gogo is headquartered in Chicago, IL, with additional facilities in Broomfield, CO, and various locations overseas. “
GOGO has been the topic of several other research reports. Raymond James Financial, Inc. initiated coverage on Gogo in a research note on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 target price on the stock. BidaskClub upgraded Gogo from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Dougherty & Co lifted their target price on Gogo from $17.50 to $19.00 and gave the company a “buy” rating in a research note on Sunday, May 7th. ValuEngine upgraded Gogo from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, UBS AG reiterated a “buy” rating and issued a $15.00 target price (up previously from $14.00) on shares of Gogo in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Gogo has a consensus rating of “Buy” and a consensus price target of $14.75.
Shares of Gogo (GOGO) traded down 0.41% during trading on Monday, reaching $12.07. 364,974 shares of the company traded hands. Gogo has a 52 week low of $8.20 and a 52 week high of $13.69. The company’s 50-day moving average price is $11.70 and its 200-day moving average price is $11.21. The company’s market capitalization is $1.04 billion.
Gogo (NASDAQ:GOGO) last posted its earnings results on Thursday, May 4th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.52). The company had revenue of $165.41 million during the quarter, compared to analysts’ expectations of $160.04 million. During the same quarter last year, the firm earned ($0.31) EPS. Gogo’s revenue for the quarter was up 16.7% on a year-over-year basis. Equities research analysts forecast that Gogo will post ($1.94) EPS for the current fiscal year.
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Several large investors have recently modified their holdings of GOGO. Guggenheim Capital LLC raised its stake in shares of Gogo by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 11,623 shares of the technology company’s stock worth $107,000 after buying an additional 73 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Gogo by 1.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,775 shares of the technology company’s stock worth $141,000 after buying an additional 180 shares during the last quarter. Parkwood LLC raised its stake in shares of Gogo by 3.4% in the first quarter. Parkwood LLC now owns 11,089 shares of the technology company’s stock worth $122,000 after buying an additional 363 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Gogo by 12.3% in the first quarter. Legal & General Group Plc now owns 14,770 shares of the technology company’s stock worth $163,000 after buying an additional 1,612 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of Gogo by 7.1% in the first quarter. American International Group Inc. now owns 34,656 shares of the technology company’s stock worth $381,000 after buying an additional 2,294 shares during the last quarter. Institutional investors and hedge funds own 64.62% 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).
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