Gogo Inc. (NASDAQ:GOGO)‘s stock had its “buy” rating reiterated by stock analysts at Guggenheim in a report issued on Monday. They presently have a $16.00 price target on the technology company’s stock. Guggenheim’s price target points to a potential upside of 36.64% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. BidaskClub raised Gogo from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. ValuEngine upgraded Gogo from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Standpoint Research downgraded Gogo from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research upgraded Gogo from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Gogo presently has a consensus rating of “Hold” and an average price target of $14.35.
Shares of Gogo (NASDAQ:GOGO) opened at 11.71 on Monday. The company has a 50 day moving average price of $13.16 and a 200 day moving average price of $12.38. Gogo has a 52 week low of $8.56 and a 52 week high of $14.76. The company’s market cap is $1.02 billion.
Gogo (NASDAQ:GOGO) last announced its earnings results on Monday, August 7th. The technology company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.07). The company had revenue of $172.80 million during the quarter, compared to analyst estimates of $167.63 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. On average, equities analysts expect that Gogo will post ($2.02) earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its stake in Gogo by 15.8% in the second quarter. Public Employees Retirement System of Ohio now owns 118,168 shares of the technology company’s stock valued at $1,362,000 after purchasing an additional 16,094 shares in the last quarter. Verition Fund Management LLC grew its stake in Gogo by 37.3% in the second quarter. Verition Fund Management LLC now owns 14,599 shares of the technology company’s stock valued at $168,000 after purchasing an additional 3,963 shares in the last quarter. National Asset Management Inc. bought a new position in Gogo in the second quarter valued at approximately $172,000. Nomura Holdings Inc. bought a new position in Gogo in the second quarter valued at approximately $1,061,000. Finally, The Manufacturers Life Insurance Company grew its stake in Gogo by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 47,904 shares of the technology company’s stock valued at $552,000 after purchasing an additional 1,407 shares in the last quarter. Hedge funds and other institutional investors own 66.51% 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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