StockNews.com cut shares of Gogo (NASDAQ:GOGO – Get Rating) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
Separately, Morgan Stanley raised Gogo from an underweight rating to an equal weight rating and upped their target price for the stock from $14.00 to $15.00 in a research report on Tuesday, November 1st.
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Gogo Stock Down 0.1 %
Shares of NASDAQ GOGO opened at $16.15 on Friday. The stock's fifty day simple moving average is $15.28 and its 200 day simple moving average is $14.89. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 7.69 and a beta of 1.25. Gogo has a 52-week low of $11.57 and a 52-week high of $23.69.
Gogo (NASDAQ:GOGO – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Gogo had a negative return on equity of 39.26% and a net
margin of 72.93%. The firm had revenue of $105.32 million during the quarter, compared to the consensus estimate of $101.89 million. As a group, analysts anticipate that Gogo will post 0.62 earnings per share for the current year.
Hedge Funds Weigh In On Gogo
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOGO. State Street Corp grew its holdings in Gogo by 74.2% during the second quarter. State Street Corp now owns 2,205,326 shares of the technology company's stock valued at $35,704,000 after purchasing an additional 939,632 shares during the last quarter. Federated Hermes Inc. grew its holdings in Gogo by 24,953.9% during the first quarter. Federated Hermes Inc. now owns 546,426 shares of the technology company's stock valued at $10,415,000 after purchasing an additional 544,245 shares during the last quarter. Sycale Advisors NY LLC grew its holdings in Gogo by 298.8% during the second quarter. Sycale Advisors NY LLC now owns 714,030 shares of the technology company's stock valued at $11,560,000 after purchasing an additional 534,996 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Gogo during the second quarter valued at approximately $7,589,000. Finally, Goldman Sachs Group Inc. grew its holdings in Gogo by 166.5% during the first quarter. Goldman Sachs Group Inc. now owns 557,671 shares of the technology company's stock valued at $10,629,000 after purchasing an additional 348,391 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company's stock.
Gogo Company Profile
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Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services.
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