Gogo (GOGO) Stock Rating Upgraded by ValuEngine
Gogo (NASDAQ:GOGO) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.
Several other equities analysts have also issued reports on GOGO. Zacks Investment Research upgraded Gogo from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Guggenheim reiterated a “buy” rating and issued a $16.00 price objective on shares of Gogo in a research note on Monday, October 9th. Finally, Northland Securities initiated coverage on Gogo in a research note on Tuesday, September 19th. They issued an “under perform” rating and a $6.75 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $14.35.
Gogo (NASDAQ GOGO) opened at $11.28 on Friday. Gogo has a 12 month low of $8.56 and a 12 month high of $14.76. The company has a debt-to-equity ratio of -6.40, a quick ratio of 2.02 and a current ratio of 2.20. The stock has a market capitalization of $978.80, a PE ratio of -5.67 and a beta of 1.69.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.57) earnings per share (EPS) for the quarter, missing the 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. During the same quarter last year, the company earned ($0.42) EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. equities analysts anticipate that Gogo will post -2.11 EPS for the current fiscal year.
In related news, insider Michael Small acquired 100,000 shares of the stock in a transaction dated Monday, November 6th. The shares were bought at an average cost of $8.79 per share, for a total transaction of $879,000.00. Following the purchase, the insider now owns 398,224 shares in the company, valued at approximately $3,500,388.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 37.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC boosted its holdings in shares of Gogo by 37.3% in the 2nd quarter. Verition Fund Management LLC now owns 14,599 shares of the technology company’s stock worth $168,000 after acquiring an additional 3,963 shares in the last quarter. National Asset Management Inc. acquired a new position in shares of Gogo in the 2nd quarter worth approximately $172,000. Legal & General Group Plc boosted its holdings in shares of Gogo by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 15,326 shares of the technology company’s stock worth $178,000 after acquiring an additional 556 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of Gogo in the 2nd quarter worth approximately $223,000. Finally, Premier Asset Management LLC acquired a new position in shares of Gogo in the 3rd quarter worth approximately $232,000. Institutional investors own 69.82% of the company’s stock.
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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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