Gogo Inc. (GOGO) Stock Rating Upgraded by Zacks Investment Research
Gogo Inc. (NASDAQ:GOGO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
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 subject of a number of other research reports. BidaskClub upgraded Gogo from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. ValuEngine upgraded Gogo from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Standpoint Research downgraded Gogo from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Guggenheim restated a “buy” rating and set a $16.00 target price on shares of Gogo in a report on Monday, October 9th. Finally, Northland Securities initiated coverage on Gogo in a report on Tuesday, September 19th. They set an “under perform” rating and a $6.75 target price for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.35.
Gogo (NASDAQ GOGO) traded up 0.09% during mid-day trading on Tuesday, hitting $10.58. 1,452,204 shares of the stock traded hands. The company has a 50-day moving average of $12.40 and a 200 day moving average of $12.36. The firm’s market capitalization is $917.43 million. Gogo has a 1-year low of $8.56 and a 1-year high of $14.76.
Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Monday, August 7th. The technology company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07). The firm 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% on a year-over-year basis. During the same period in the previous year, the business posted ($0.31) earnings per share. On average, equities research analysts anticipate that Gogo will post ($2.03) EPS for the current year.
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Several institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC raised its holdings in shares of Gogo by 96.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 4,688,498 shares of the technology company’s stock valued at $83,455,000 after acquiring an additional 2,300,141 shares in the last quarter. Vanguard Group Inc. raised its holdings in Gogo by 2.6% in the second quarter. Vanguard Group Inc. now owns 4,603,405 shares of the technology company’s stock worth $53,077,000 after purchasing an additional 114,567 shares in the last quarter. Hodges Capital Management Inc. raised its holdings in Gogo by 47.0% in the first quarter. Hodges Capital Management Inc. now owns 4,109,815 shares of the technology company’s stock worth $45,208,000 after purchasing an additional 1,314,245 shares in the last quarter. Wellington Management Group LLP raised its holdings in Gogo by 22.0% in the first quarter. Wellington Management Group LLP now owns 2,525,921 shares of the technology company’s stock worth $27,811,000 after purchasing an additional 455,535 shares in the last quarter. Finally, Harbour Capital Advisors LLC raised its holdings in Gogo by 667.6% in the second quarter. Harbour Capital Advisors LLC now owns 2,296,811 shares of the technology company’s stock worth $199,203,000 after purchasing an additional 1,997,608 shares in the last quarter. Institutional investors own 66.60% 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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