Gogo (NASDAQ:GOGO) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
Other equities analysts have also recently issued research reports about the stock. William Blair reaffirmed a “buy” rating on shares of Gogo in a research report on Tuesday, March 6th. ValuEngine raised shares of Gogo from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research raised shares of Gogo from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. JPMorgan Chase & Co. cut shares of Gogo from an “overweight” rating to a “neutral” rating in a research report on Friday, February 23rd. Finally, UBS Group cut shares of Gogo from a “buy” rating to a “neutral” rating in a research report on Monday, May 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Gogo presently has a consensus rating of “Hold” and a consensus target price of $6.17.
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Gogo opened at $5.36 on Wednesday, Marketbeat.com reports. The company has a debt-to-equity ratio of -5.26, a current ratio of 2.30 and a quick ratio of 1.69. The company has a market cap of $458.51 million, a P/E ratio of -2.47 and a beta of 1.30. Gogo has a fifty-two week low of $4.55 and a fifty-two week high of $14.76.
Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Friday, May 4th. The technology company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.24. The company had revenue of $231.83 million for the quarter, compared to analysts’ expectations of $221.48 million. The business’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.52) EPS. equities analysts forecast that Gogo will post -2.21 EPS for the current year.
In other Gogo news, major shareholder Thorndale Farm, Inc. purchased 187,529 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was bought at an average price of $5.30 per share, with a total value of $993,903.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles C. Townsend purchased 359,267 shares of the firm’s stock in a transaction on Friday, May 25th. The stock was acquired at an average cost of $4.98 per share, with a total value of $1,789,149.66. The disclosure for this purchase can be found here. Insiders acquired a total of 844,444 shares of company stock valued at $4,324,637 in the last three months. 36.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of GOGO. Schwab Charles Investment Management Inc. boosted its position in Gogo by 4.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 302,220 shares of the technology company’s stock valued at $3,410,000 after buying an additional 12,745 shares during the period. Teacher Retirement System of Texas purchased a new position in Gogo in the 4th quarter valued at approximately $214,000. First Trust Advisors LP purchased a new position in Gogo in the 4th quarter valued at approximately $1,092,000. First Allied Advisory Services Inc. boosted its position in Gogo by 18.3% in the 4th quarter. First Allied Advisory Services Inc. now owns 67,880 shares of the technology company’s stock valued at $775,000 after buying an additional 10,520 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Gogo by 45.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 45,550 shares of the technology company’s stock valued at $514,000 after buying an additional 14,250 shares during the period. 74.25% of the stock is owned by institutional investors.
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).