William Blair Reaffirms “Buy” Rating for Gogo (GOGO)

William Blair restated their buy rating on shares of Gogo (NASDAQ:GOGO) in a research report report published on Tuesday morning.

A number of other research firms have also weighed in on GOGO. Northland Securities set a $6.00 price objective on shares of Gogo and gave the company a sell rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lowered shares of Gogo from an overweight rating to a neutral rating in a research report on Friday, February 23rd. BidaskClub lowered shares of Gogo from a hold rating to a sell rating in a research report on Saturday, January 6th. ValuEngine upgraded shares of Gogo from a sell rating to a hold rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research upgraded shares of Gogo from a sell rating to a hold rating in a research report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $13.80.

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Gogo (NASDAQ:GOGO) opened at $9.25 on Tuesday. The company has a debt-to-equity ratio of -5.22, a quick ratio of 1.73 and a current ratio of 1.87. Gogo has a 1 year low of $8.52 and a 1 year high of $14.76.

Gogo (NASDAQ:GOGO) last announced its earnings results on Thursday, February 22nd. The technology company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The firm had revenue of $188.00 million for the quarter, compared to analyst estimates of $181.44 million. During the same quarter in the previous year, the business posted ($0.34) EPS. The company’s revenue was up 17.5% on a year-over-year basis. sell-side analysts expect that Gogo will post -1.84 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of GOGO. Northern Trust Corp boosted its position in shares of Gogo by 3.2% during the 2nd quarter. Northern Trust Corp now owns 693,159 shares of the technology company’s stock worth $7,993,000 after purchasing an additional 21,674 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Gogo by 2.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 22,953 shares of the technology company’s stock worth $265,000 after purchasing an additional 476 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Gogo by 9.5% during the 2nd quarter. Voya Investment Management LLC now owns 27,707 shares of the technology company’s stock worth $319,000 after purchasing an additional 2,393 shares in the last quarter. State Street Corp boosted its position in shares of Gogo by 6.2% during the 2nd quarter. State Street Corp now owns 1,111,346 shares of the technology company’s stock worth $12,811,000 after purchasing an additional 64,390 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Gogo by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,904 shares of the technology company’s stock worth $552,000 after purchasing an additional 1,407 shares in the last quarter. Institutional investors own 77.30% of the company’s stock.

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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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