Gogo Inc. (NASDAQ:GOGO) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Gogo Inc. (NASDAQ:GOGO) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $8.50.

Several research firms have weighed in on GOGO. Wall Street Zen cut Gogo from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Weiss Ratings lowered Gogo from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, August 17th. Roth Capital reiterated a “buy” rating on shares of Gogo in a research note on Friday, August 7th. Finally, Zacks Research raised Gogo from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th.

Institutional Trading of Gogo

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in shares of Gogo during the 2nd quarter worth about $16,029,000. BlackRock Inc. acquired a new stake in shares of Gogo during the 2nd quarter worth approximately $18,984,000. Nantahala Capital Management LLC acquired a new position in shares of Gogo in the second quarter valued at $26,962,966. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Gogo by 199.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 486,820 shares of the technology company’s stock valued at $1,957,000 after purchasing an additional 324,237 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Gogo during the second quarter worth $2,193,000. 69.60% of the stock is owned by institutional investors.

Gogo Stock Performance

Shares of GOGO stock opened at $2.36 on Friday. The firm has a market cap of $319.80 million, a P/E ratio of 236.00 and a beta of 1.22. The company has a debt-to-equity ratio of 6.74, a current ratio of 1.73 and a quick ratio of 1.21. Gogo has a fifty-two week low of $1.96 and a fifty-two week high of $9.24. The stock’s 50-day moving average is $2.40 and its two-hundred day moving average is $3.67.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Gogo had a positive return on equity of 22.55% and a negative net margin of 0.09%. The firm had revenue of $222.81 million during the quarter, compared to analyst estimates of $229.35 million. During the same quarter in the prior year, the company posted $0.09 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts predict that Gogo will post 0.03 earnings per share for the current fiscal year.

About Gogo

Gogo Inc is an aviation connectivity and broadband services company that provides internet access, entertainment, and communications solutions for business and commercial aircraft. Its offerings are designed to help passengers and flight crews stay connected while in the air through a combination of air-to-ground and satellite-based technologies.

Gogo’s business aviation portfolio includes the AVANCE connectivity platform, which supports in-flight Wi-Fi and related services, as well as equipment, software, and network management solutions for private and business aircraft.