Equities Analysts Set Expectations for Gogo Inc.’s Q3 2017 Earnings (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) – Analysts at William Blair reduced their Q3 2017 earnings per share estimates for Gogo in a report released on Monday. William Blair analyst J. Breen now expects that the technology company will earn ($0.54) per share for the quarter, down from their prior forecast of ($0.47). William Blair also issued estimates for Gogo’s Q4 2017 earnings at ($0.41) EPS, FY2017 earnings at ($2.03) EPS, Q3 2018 earnings at ($0.40) EPS, Q4 2018 earnings at ($0.38) EPS and FY2018 earnings at ($1.62) EPS.

Other analysts have also recently issued reports about the stock. Dougherty & Co upped their target price on shares of Gogo from $17.50 to $19.00 and gave the company a “buy” rating in a report on Sunday, May 7th. UBS AG reaffirmed a “buy” rating and set a $15.00 target price (up from $14.00) on shares of Gogo in a report on Friday, May 5th. Zacks Investment Research raised shares of Gogo from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Wednesday, May 3rd. BidaskClub raised shares of Gogo from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Standpoint Research cut shares of Gogo from a “buy” rating to a “hold” rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Gogo has an average rating of “Hold” and an average target price of $15.50.

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Gogo (NASDAQ:GOGO) opened at 12.56 on Thursday. Gogo has a 1-year low of $8.56 and a 1-year high of $13.69. The company has a 50-day moving average of $12.00 and a 200-day moving average of $11.50. The stock’s market capitalization is $1.09 billion.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Monday, August 7th. The technology company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.07. The company had revenue of $172.80 million for the quarter, compared to analyst estimates of $167.63 million. During the same period last year, the company earned ($0.31) EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year.

Hedge funds have recently made changes to their positions in the stock. Guggenheim Capital LLC boosted its stake 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 worth $107,000 after buying an additional 73 shares in the last quarter. Arxis Securities LLC acquired a new stake in shares of Gogo during the first quarter worth approximately $112,000. Principal Financial Group Inc. acquired a new stake in shares of Gogo during the first quarter worth approximately $114,000. Parkwood LLC boosted its stake in shares of Gogo by 3.4% in the first quarter. Parkwood LLC now owns 11,089 shares of the technology company’s stock worth $122,000 after buying an additional 363 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of Gogo by 1.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,775 shares of the technology company’s stock worth $141,000 after buying an additional 180 shares in the last quarter. 63.71% of the stock is owned by institutional investors and hedge funds.

About Gogo

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).

Earnings History and Estimates for Gogo (NASDAQ:GOGO)

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