Gogo (NASDAQ:GOGO) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Gogo from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine raised shares of Gogo from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Raymond James downgraded shares of Gogo from an “outperform” rating to a “market perform” rating and set a $15.00 target price for the company. in a research report on Tuesday, July 24th. William Blair downgraded shares of Gogo from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 17th. Finally, Morgan Stanley dropped their target price on shares of Gogo from $7.00 to $3.00 and set a “positive” rating for the company in a research report on Wednesday, May 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.38.
Gogo stock opened at $4.29 on Friday. Gogo has a 12-month low of $3.52 and a 12-month high of $14.76. The firm has a market cap of $361.64 million, a P/E ratio of -1.98 and a beta of 1.40. The company has a current ratio of 2.01, a quick ratio of 1.43 and a debt-to-equity ratio of -4.44.
Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Wednesday, August 8th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.27. The firm had revenue of $227.50 million for the quarter, compared to analysts’ expectations of $207.64 million. During the same period last year, the firm earned ($0.56) EPS. The business’s quarterly revenue was up 31.7% on a year-over-year basis. equities analysts expect that Gogo will post -2.16 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its position in shares of Gogo by 13.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,209,800 shares of the technology company’s stock worth $5,880,000 after purchasing an additional 139,300 shares during the last quarter. Teton Advisors Inc. bought a new stake in shares of Gogo in the 2nd quarter worth about $292,000. Millennium Management LLC bought a new stake in shares of Gogo in the 4th quarter worth about $115,000. Engineers Gate Manager LP increased its position in shares of Gogo by 34.8% in the 2nd quarter. Engineers Gate Manager LP now owns 132,288 shares of the technology company’s stock worth $643,000 after purchasing an additional 34,147 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Gogo by 5.2% during the 1st quarter. Gabelli Funds LLC now owns 1,849,200 shares of the technology company’s stock valued at $15,959,000 after buying an additional 91,500 shares during the last quarter. 67.56% of the stock is owned by 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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