Gogo Inc. (GOGO) Receives Average Recommendation of “Buy” from Brokerages
Shares of Gogo Inc. (NASDAQ:GOGO) have received a consensus recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $15.75.
A number of analysts recently commented on GOGO shares. Dougherty & Co raised their price target on Gogo from $17.50 to $19.00 and gave the stock a “buy” rating in a research note on Sunday, May 7th. UBS AG reaffirmed a “buy” rating and issued a $15.00 price target (up previously from $14.00) on shares of Gogo in a research note on Friday, May 5th. Zacks Investment Research raised Gogo from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Wednesday, May 3rd. BidaskClub raised Gogo from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Standpoint Research lowered Gogo from a “buy” rating to a “hold” rating in a research note on Friday, August 4th.
Institutional investors have recently made changes to their positions in the stock. PEAK6 Investments L.P. purchased a new position in shares of Gogo during the first quarter valued at approximately $825,000. American International Group Inc. raised its position in shares of Gogo by 7.1% in the first quarter. American International Group Inc. now owns 34,656 shares of the technology company’s stock valued at $381,000 after buying an additional 2,294 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Gogo by 9.0% in the first quarter. Gamco Investors INC. ET AL now owns 1,002,700 shares of the technology company’s stock valued at $11,030,000 after buying an additional 82,600 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Gogo during the first quarter valued at approximately $564,000. Finally, Guggenheim Capital LLC raised its position in shares of Gogo by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 11,623 shares of the technology company’s stock valued at $107,000 after buying an additional 73 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.
Shares of Gogo (NASDAQ:GOGO) traded down 1.10% during trading on Tuesday, reaching $13.46. 615,409 shares of the company traded hands. The company has a 50 day moving average price of $12.41 and a 200 day moving average price of $11.78. Gogo has a 12-month low of $8.56 and a 12-month high of $13.93. The firm’s market capitalization is $1.17 billion.
Gogo (NASDAQ:GOGO) last issued its earnings results on Monday, August 7th. The technology company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by $0.07. The firm had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $167.63 million. During the same quarter last year, the company earned ($0.31) EPS. The business’s revenue was up 17.2% on a year-over-year basis. On average, equities analysts predict that Gogo will post ($2.02) EPS for the current year.
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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