Gogo Inc. (GOGO) Downgraded to “Hold” at BidaskClub

Gogo Inc. (NASDAQ:GOGO) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other analysts also recently issued reports about the company. UBS AG reissued a “buy” rating and set a $15.00 price objective (up from $14.00) on shares of Gogo in a research report on Friday, May 5th. Zacks Investment Research raised Gogo from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, May 3rd. Dougherty & Co lifted their target price on Gogo from $16.00 to $17.50 and gave the company a “buy” rating in a research report on Monday, May 1st. ValuEngine raised Gogo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, Standpoint Research downgraded Gogo from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.50.

Shares of Gogo (NASDAQ GOGO) opened at 12.56 on Friday. The stock’s market capitalization is $1.09 billion. The stock’s 50 day moving average is $12.00 and its 200-day moving average is $11.50. Gogo has a 52 week low of $8.56 and a 52 week high of $13.69.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Monday, August 7th. The technology company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.07. The company had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $167.63 million. The company’s revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm earned ($0.31) earnings per share. On average, analysts anticipate that Gogo will post ($2.02) earnings per share for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC increased its position 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 valued at $199,203,000 after buying an additional 1,997,608 shares in the last quarter. Hodges Capital Management Inc. increased its position 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 valued at $45,208,000 after buying an additional 1,314,245 shares in the last quarter. Quantitative Investment Management LLC increased its position in Gogo by 1,187.5% in the second quarter. Quantitative Investment Management LLC now owns 288,400 shares of the technology company’s stock valued at $3,325,000 after buying an additional 266,000 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Gogo by 60.0% in the first quarter. Daiwa Securities Group Inc. now owns 605,000 shares of the technology company’s stock valued at $6,655,000 after buying an additional 226,794 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Gogo during the second quarter valued at $1,798,000. 63.71% of the stock is owned by institutional investors.

About Gogo

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).

Analyst Recommendations for Gogo (NASDAQ:GOGO)

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