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Gogo Inc. (GOGO) Rating Increased to Hold at BidaskClub
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Several other brokerages have also commented on GOGO. Dougherty & Co increased their price objective on Gogo from $17.50 to $19.00 and gave the company a buy rating in a report on Sunday, May 7th. UBS AG reiterated a buy rating and set a $15.00 price objective (up previously from $14.00) on shares of Gogo in a report on Friday, May 5th. 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 for the company. Zacks Investment Research upgraded Gogo from a hold rating to a buy rating and set a $14.00 target price for the company in a research note on Wednesday, May 3rd. Finally, ValuEngine upgraded Gogo from a sell rating to a hold rating in a research note on Tuesday, June 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $15.71.
Gogo (NASDAQ GOGO) opened at 12.26 on Wednesday. Gogo has a 1-year low of $8.20 and a 1-year high of $13.69. The stock’s market cap is $1.06 billion. The stock has a 50 day moving average price of $11.77 and a 200 day moving average price of $11.27.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.52) EPS for the quarter, meeting the consensus estimate of ($0.52). The business had revenue of $165.41 million for the quarter, compared to analysts’ expectations of $160.04 million. During the same quarter in the prior year, the company posted ($0.31) EPS. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, analysts predict that Gogo will post ($1.94) EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. Searle & CO. bought a new position in Gogo during the fourth quarter worth $101,000. Guggenheim Capital LLC raised its position in 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. Arxis Securities LLC bought a new position in Gogo during the first quarter worth $112,000. Principal Financial Group Inc. bought a new position in Gogo during the first quarter worth $114,000. Finally, Parkwood LLC raised its position in 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. 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).