Gogo Inc. (GOGO) Rating Lowered to Sell at ValuEngine
Gogo Inc. (NASDAQ:GOGO) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday.
A number of other research analysts have also issued reports on GOGO. Northland Securities initiated coverage on shares of Gogo in a report on Tuesday, September 19th. They issued an “under perform” rating and a $6.75 target price on the stock. BidaskClub lowered shares of Gogo from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Standpoint Research lowered shares of Gogo from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Guggenheim restated a “buy” rating and issued a $16.00 target price on shares of Gogo in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.35.
Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.03). The company had revenue of $172.87 million for the quarter, compared to analyst estimates of $172.92 million. During the same quarter in the previous year, the company earned ($0.42) EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in shares of Gogo during the 1st quarter valued at about $114,000. Parkwood LLC increased its stake in shares of Gogo by 16.2% during the 2nd quarter. Parkwood LLC now owns 12,888 shares of the technology company’s stock valued at $149,000 after acquiring an additional 1,799 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of Gogo by 37.3% during the 2nd quarter. Verition Fund Management LLC now owns 14,599 shares of the technology company’s stock valued at $168,000 after acquiring an additional 3,963 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Gogo by 12.3% during the 1st quarter. Legal & General Group Plc now owns 14,770 shares of the technology company’s stock valued at $163,000 after acquiring an additional 1,612 shares during the last quarter. Finally, National Asset Management Inc. acquired a new position in shares of Gogo during the 2nd quarter valued at about $172,000. 66.60% of the stock is owned by institutional investors.
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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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