BidaskClub Downgrades Gogo (GOGO) to Sell

BidaskClub lowered shares of Gogo (NASDAQ:GOGO) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

GOGO has been the subject of a number of other reports. Zacks Investment Research raised Gogo from a strong sell rating to a hold rating in a research report on Tuesday, October 24th. ValuEngine downgraded Gogo from a hold rating to a sell rating in a research report on Thursday, November 2nd. Guggenheim reissued a buy rating and issued a $16.00 target price on shares of Gogo in a research report on Monday, October 9th. Finally, Northland Securities started coverage on Gogo in a report on Tuesday, September 19th. They issued an under perform rating and a $6.75 price target for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Gogo presently has an average rating of Hold and a consensus target price of $14.35.

Gogo (NASDAQ GOGO) remained flat at $$11.15 during trading hours on Friday. The company’s stock had a trading volume of 623,756 shares, compared to its average volume of 910,198. The company has a quick ratio of 2.02, a current ratio of 2.20 and a debt-to-equity ratio of -6.40. Gogo has a 52-week low of $8.56 and a 52-week high of $14.76. The firm has a market capitalization of $967.52, a PE ratio of -5.60 and a beta of 1.69.

Gogo (NASDAQ:GOGO) last released its earnings results on Thursday, November 2nd. The technology company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.06). The business had revenue of $172.87 million during the quarter, compared to analyst estimates of $172.92 million. During the same period in the prior year, the company earned ($0.42) earnings per share. Gogo’s revenue was up 17.4% on a year-over-year basis. equities analysts forecast that Gogo will post -2.11 earnings per share for the current fiscal year.

In related news, insider Michael Small purchased 100,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was purchased at an average cost of $8.79 per share, with a total value of $879,000.00. Following the completion of the acquisition, the insider now directly owns 398,224 shares of the company’s stock, valued at $3,500,388.96. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 37.30% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Gogo by 2.6% in the second quarter. Vanguard Group Inc. now owns 4,603,405 shares of the technology company’s stock worth $53,077,000 after acquiring an additional 114,567 shares during the period. Billings Capital Management LLC boosted its holdings in shares of Gogo by 6.7% in the third quarter. Billings Capital Management LLC now owns 2,947,085 shares of the technology company’s stock worth $34,805,000 after acquiring an additional 184,386 shares during the period. Elk Creek Partners LLC boosted its holdings in shares of Gogo by 4.3% in the third quarter. Elk Creek Partners LLC now owns 1,682,480 shares of the technology company’s stock worth $19,870,000 after acquiring an additional 69,815 shares during the period. State Street Corp boosted its holdings in shares of Gogo by 6.2% in the second quarter. State Street Corp now owns 1,111,346 shares of the technology company’s stock worth $12,811,000 after acquiring an additional 64,390 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Gogo by 3.2% in the second quarter. Northern Trust Corp now owns 693,159 shares of the technology company’s stock worth $7,993,000 after acquiring an additional 21,674 shares during the period. 69.82% of the stock is owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Gogo (NASDAQ:GOGO)

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