Gogo (NASDAQ:GOGO) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday, BidAskClub reports.

Several other research analysts have also recently weighed in on the stock. Roth Capital assumed coverage on shares of Gogo in a report on Monday. They set a “buy” rating and a $10.00 price target on the stock. William Blair upgraded shares of Gogo from a “market perform” rating to an “outperform” rating in a report on Friday, May 10th. Zacks Investment Research cut shares of Gogo from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Cowen upgraded shares of Gogo from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $4.25 to $7.00 in a research note on Thursday, April 18th. Finally, Northland Securities reiterated a “sell” rating and issued a $1.50 target price on shares of Gogo in a research note on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $7.04.

Gogo stock traded up $0.49 during midday trading on Wednesday, hitting $5.98. 4,155,758 shares of the stock were exchanged, compared to its average volume of 1,524,660. Gogo has a 52-week low of $2.64 and a 52-week high of $7.82. The stock has a market cap of $525.03 million, a PE ratio of -3.27 and a beta of 1.35.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.31. The firm had revenue of $199.55 million for the quarter, compared to analysts’ expectations of $198.00 million. During the same quarter last year, the firm posted ($0.34) earnings per share. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. On average, equities analysts predict that Gogo will post -1.97 EPS for the current fiscal year.

In related news, Director Charles C. Townsend bought 64,389 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $5.48 per share, for a total transaction of $352,851.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles C. Townsend bought 277,405 shares of the company’s stock in a transaction on Wednesday, February 27th. The stock was bought at an average price of $4.36 per share, for a total transaction of $1,209,485.80. The disclosure for this purchase can be found here. 36.20% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in GOGO. North Peak Capital Management LLC lifted its stake in shares of Gogo by 1,012.3% during the 1st quarter. North Peak Capital Management LLC now owns 2,780,647 shares of the technology company’s stock valued at $12,485,000 after buying an additional 2,530,647 shares in the last quarter. Hodges Capital Management Inc. lifted its stake in shares of Gogo by 1,120.3% during the 1st quarter. Hodges Capital Management Inc. now owns 763,900 shares of the technology company’s stock valued at $3,430,000 after buying an additional 701,300 shares in the last quarter. First Midwest Bank Trust Division lifted its stake in shares of Gogo by 38.1% during the 1st quarter. First Midwest Bank Trust Division now owns 1,367,952 shares of the technology company’s stock valued at $6,142,000 after buying an additional 377,630 shares in the last quarter. Morgan Stanley lifted its stake in shares of Gogo by 220.8% during the 3rd quarter. Morgan Stanley now owns 545,784 shares of the technology company’s stock valued at $2,832,000 after buying an additional 375,640 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Gogo by 142.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 540,836 shares of the technology company’s stock valued at $2,428,000 after buying an additional 317,336 shares in the last quarter. Institutional investors own 57.61% 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).

Featured Article: Capital gains and your 401(k) or IRA

Analyst Recommendations for Gogo (NASDAQ:GOGO)

Receive News & Ratings for Gogo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo and related companies with MarketBeat.com's FREE daily email newsletter.