ValuEngine Upgrades Gogo (GOGO) to Buy

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ValuEngine upgraded shares of Gogo (NASDAQ:GOGO) from a hold rating to a buy rating in a report issued on Tuesday.

Several other research analysts have also commented on GOGO. Zacks Investment Research lowered shares of Gogo from a hold rating to a sell rating in a report on Wednesday, July 11th. William Blair lowered shares of Gogo from an outperform rating to a market perform rating in a report on Tuesday, July 17th. Raymond James lowered shares of Gogo from an outperform rating to a market perform rating and set a $15.00 price objective for the company. in a report on Tuesday, July 24th. Finally, BidaskClub upgraded shares of Gogo from a sell rating to a hold rating in a report on Saturday, August 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Gogo presently has an average rating of Hold and an average price target of $8.50.

Shares of GOGO opened at $6.18 on Tuesday. Gogo has a twelve month low of $3.52 and a twelve month high of $11.75.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.47) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.24. The firm had revenue of $217.26 million for the quarter, compared to analysts’ expectations of $212.01 million. The company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.57) EPS. Sell-side analysts forecast that Gogo will post -2.1 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of GOGO. First Midwest Bank Trust Division raised its holdings in Gogo by 477.0% in the 2nd quarter. First Midwest Bank Trust Division now owns 435,931 shares of the technology company’s stock worth $2,118,000 after purchasing an additional 360,384 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Gogo by 57.1% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 55,000 shares of the technology company’s stock worth $267,000 after acquiring an additional 20,000 shares in the last quarter. Engineers Gate Manager LP increased its stake in shares of Gogo by 34.8% in the 2nd quarter. Engineers Gate Manager LP now owns 132,288 shares of the technology company’s stock worth $643,000 after acquiring an additional 34,147 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Gogo by 49.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 179,226 shares of the technology company’s stock worth $871,000 after acquiring an additional 59,441 shares in the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Gogo by 7.7% in the 2nd quarter. Gabelli Funds LLC now owns 1,991,000 shares of the technology company’s stock worth $9,676,000 after acquiring an additional 141,800 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

About Gogo

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Gogo (NASDAQ:GOGO)

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