Gogo Inc. (GOGO) Receives Outperform Rating from William Blair
Gogo Inc. (NASDAQ:GOGO)‘s stock had its “outperform” rating restated by analysts at William Blair in a research note issued to investors on Friday.
Several other brokerages also recently commented on GOGO. Zacks Investment Research upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Wednesday. Standpoint Research upgraded shares of Gogo from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, August 31st. JPMorgan Chase & Co. dropped their target price on shares of Gogo from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 5th. Dougherty & Co dropped their target price on shares of Gogo from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, June 15th. Finally, Morgan Stanley dropped their target price on shares of Gogo from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Gogo currently has a consensus rating of “Hold” and a consensus price target of $13.60.
Shares of Gogo (NASDAQ:GOGO) opened at 11.69 on Friday. Gogo has a 12-month low of $7.80 and a 12-month high of $19.61. The company’s market capitalization is $1.01 billion. The company’s 50 day moving average is $11.99 and its 200 day moving average is $10.36.
Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.40) by $0.11. Gogo had a negative return on equity of 204.51% and a negative net margin of 22.95%. The firm had revenue of $147.50 million for the quarter, compared to the consensus estimate of $141.46 million. During the same period in the previous year, the business earned ($0.32) EPS. The firm’s revenue was up 21.7% compared to the same quarter last year. Analysts expect that Gogo will post ($1.55) earnings per share for the current fiscal year.
In other Gogo news, Director Charles C. Townsend acquired 200,000 shares of the stock in a transaction dated Monday, August 8th. The shares were bought at an average cost of $10.73 per share, for a total transaction of $2,146,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. Mundheim acquired 8,500 shares of the stock in a transaction dated Thursday, August 11th. The stock was acquired at an average price of $11.53 per share, for a total transaction of $98,005.00. The disclosure for this purchase can be found here. 37.70% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Capital World Investors increased its position in shares of Gogo by 72.1% in the second quarter. Capital World Investors now owns 3,640,000 shares of the company’s stock worth $30,540,000 after buying an additional 1,525,000 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Gogo during the second quarter worth $12,223,000. Gabelli Funds LLC increased its position in shares of Gogo by 31.0% in the second quarter. Gabelli Funds LLC now owns 2,255,500 shares of the company’s stock worth $18,924,000 after buying an additional 534,000 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Gogo by 22.0% in the first quarter. Wellington Management Group LLP now owns 2,525,921 shares of the company’s stock worth $27,811,000 after buying an additional 455,535 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Gogo during the second quarter worth $2,888,000. Institutional investors and hedge funds own 74.33% of the company’s stock.
Gogo Inc is a holding company. The Company is a provider of in-flight connectivity and wireless entertainment solutions for the aviation industry across the world. 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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