Gogo (NASDAQ:GOGO) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Gogo from “Sell” to “Hold,” while the broader analyst consensus remains “Reduce” with a $8.50 price target. Ratings include one Buy, two Holds and two Sells.
• Gogo’s shares were trading at $2.84, up 7.2%, but remain near their 12-month low of $2.45 and well below the high of $11.11. The company carries a high debt-to-equity ratio of 6.74.
• Gogo’s latest quarterly results missed expectations: EPS was $0.03 versus a $0.06 estimate, while revenue of $222.81 million fell short of the $229.35 million forecast and declined 1.4% year over year.

Gogo (NASDAQ:GOGO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Gogo from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, August 17th. Zacks Research cut shares of Gogo from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Morgan Stanley cut their target price on shares of Gogo from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 21st. Finally, Roth Capital reiterated a "buy" rating on shares of Gogo in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $8.50.

Gogo Trading Up 7.2%

Shares of NASDAQ GOGO opened at $2.84 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.21 and a debt-to-equity ratio of 6.74. The stock has a market capitalization of $384.85 million, a PE ratio of 284.00 and a beta of 1.03. Gogo has a twelve month low of $2.45 and a twelve month high of $11.11. The stock has a fifty day simple moving average of $3.33 and a 200-day simple moving average of $3.92.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its earnings results on Thursday, August 6th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Gogo had a positive return on equity of 22.55% and a negative net margin of 0.09%.The firm had revenue of $222.81 million for the quarter, compared to analyst estimates of $229.35 million. During the same period in the previous year, the company posted $0.09 EPS. Gogo's revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Gogo will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Gogo

Several large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Gogo in the 4th quarter valued at about $27,000. PNC Financial Services Group Inc. grew its position in shares of Gogo by 310.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,318 shares of the technology company's stock worth $29,000 after buying an additional 5,536 shares in the last quarter. State of Wyoming acquired a new position in shares of Gogo during the first quarter worth about $34,000. Two Sigma Securities LLC purchased a new stake in shares of Gogo during the second quarter worth approximately $41,000. Finally, Stifel Financial Corp purchased a new stake in shares of Gogo during the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 69.60% of the company's stock.

About Gogo

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo's offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo's ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.

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