BidaskClub Lowers Gogo (NASDAQ:GOGO) to Sell

BidaskClub downgraded shares of Gogo (NASDAQ:GOGO) from a hold rating to a sell rating in a research report released on Saturday, January 6th.

A number of other research analysts have also recently commented on GOGO. ValuEngine upgraded Gogo from a sell rating to a hold rating in a research note on Sunday, December 31st. Zacks Investment Research raised Gogo from a sell rating to a hold rating in a research report on Tuesday, December 26th. Guggenheim reaffirmed a buy rating and set a $16.00 target price on shares of Gogo in a research report on Monday, October 9th. Finally, Northland Securities initiated coverage on Gogo in a research report on Tuesday, September 19th. They set an under perform rating and a $6.75 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $14.35.

Gogo (GOGO) traded down $0.10 during mid-day trading on Friday, hitting $10.35. The stock had a trading volume of 792,996 shares, compared to its average volume of 775,365. Gogo has a 1-year low of $8.56 and a 1-year high of $14.76. The firm has a market capitalization of $906.78, a PE ratio of -5.20 and a beta of 1.69. The company has a quick ratio of 2.02, a current ratio of 2.20 and a debt-to-equity ratio of -6.40.

Gogo (NASDAQ:GOGO) last issued its earnings results on Thursday, November 2nd. The technology company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.06). The company had revenue of $172.87 million during the quarter, compared to analysts’ expectations of $172.92 million. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.42) EPS. sell-side analysts forecast that Gogo will post -2.11 EPS for the current year.

In other news, insider Michael Small bought 100,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was purchased at an average cost of $8.79 per share, for a total transaction of $879,000.00. Following the completion of the transaction, the insider now directly owns 398,224 shares of the company’s stock, valued at approximately $3,500,388.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 37.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Gogo by 2.6% in the second quarter. Vanguard Group Inc. now owns 4,603,405 shares of the technology company’s stock valued at $53,077,000 after buying an additional 114,567 shares in the last quarter. Billings Capital Management LLC raised its stake in Gogo by 6.7% during the 3rd quarter. Billings Capital Management LLC now owns 2,947,085 shares of the technology company’s stock valued at $34,805,000 after purchasing an additional 184,386 shares during the period. Elk Creek Partners LLC raised its stake in Gogo by 4.3% during the 3rd quarter. Elk Creek Partners LLC now owns 1,682,480 shares of the technology company’s stock valued at $19,870,000 after purchasing an additional 69,815 shares during the period. State Street Corp raised its stake in Gogo by 6.2% during the 2nd quarter. State Street Corp now owns 1,111,346 shares of the technology company’s stock valued at $12,811,000 after purchasing an additional 64,390 shares during the period. Finally, Northern Trust Corp raised its stake in Gogo by 3.2% during the 2nd quarter. Northern Trust Corp now owns 693,159 shares of the technology company’s stock valued at $7,993,000 after purchasing an additional 21,674 shares during the period. 69.82% of the stock is currently owned by institutional investors.

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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).

Analyst Recommendations for Gogo (NASDAQ:GOGO)

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