Gogo (NASDAQ:GOGO) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Gogo (NASDAQ:GOGO) from a hold rating to a sell rating in a research report released on Monday.

Separately, Roth Mkm dropped their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research note on Monday.

Gogo Price Performance

GOGO stock opened at $6.47 on Monday. The company has a fifty day moving average price of $7.75 and a 200-day moving average price of $7.56. The company has a market capitalization of $813.79 million, a P/E ratio of 15.05 and a beta of 1.01. Gogo has a 52-week low of $6.17 and a 52-week high of $11.00. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm had revenue of $137.80 million during the quarter, compared to the consensus estimate of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. As a group, equities analysts expect that Gogo will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Gogo

A number of hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in Gogo by 138.4% during the fourth quarter. FMR LLC now owns 13,475,009 shares of the technology company’s stock worth $109,013,000 after buying an additional 7,821,973 shares during the last quarter. Capco Asset Management LLC raised its stake in Gogo by 22.1% during the fourth quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company’s stock worth $24,349,000 after buying an additional 544,178 shares during the last quarter. Nantahala Capital Management LLC raised its stake in Gogo by 441.5% during the fourth quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company’s stock worth $20,829,000 after buying an additional 2,099,145 shares during the last quarter. State Street Corp raised its stake in Gogo by 2.1% during the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock worth $17,675,000 after buying an additional 51,681 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in Gogo by 15.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company’s stock worth $19,613,000 after buying an additional 330,961 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Gogo Company Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.