Gogo Inc. (GOGO) Given Average Rating of “Buy” by Brokerages
Shares of Gogo Inc. (NASDAQ:GOGO) have earned a consensus recommendation of “Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.95.
A number of analysts recently issued reports on the company. BidaskClub lowered Gogo from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research lowered Gogo from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Standpoint Research lowered Gogo from a “buy” rating to a “hold” rating in a report on Friday, August 4th. ValuEngine upgraded Gogo from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Northland Securities started coverage on Gogo in a report on Tuesday. They set an “under perform” rating and a $6.75 target price for the company.
A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its holdings in Gogo by 15.8% during the second quarter. Public Employees Retirement System of Ohio now owns 118,168 shares of the technology company’s stock worth $1,362,000 after buying an additional 16,094 shares during the period. Verition Fund Management LLC lifted its holdings in Gogo by 37.3% during the second quarter. Verition Fund Management LLC now owns 14,599 shares of the technology company’s stock worth $168,000 after buying an additional 3,963 shares during the period. National Asset Management Inc. purchased a new stake in Gogo during the second quarter worth $172,000. Nomura Holdings Inc. purchased a new stake in Gogo during the second quarter worth $1,061,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Gogo by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 47,904 shares of the technology company’s stock worth $552,000 after buying an additional 1,407 shares during the period. Institutional investors own 66.51% of the company’s stock.
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Gogo (GOGO) traded up 0.40% on Friday, reaching $12.45. The company had a trading volume of 1,080,900 shares. The stock’s 50-day moving average is $13.44 and its 200-day moving average is $12.33. The company’s market capitalization is $1.08 billion. Gogo has a 52 week low of $8.56 and a 52 week high of $14.76.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Monday, August 7th. The technology company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07). The company had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $167.63 million. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.31) EPS. Equities research analysts forecast that Gogo will post ($2.02) EPS for the current fiscal year.
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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