Gogo Inc (GOGO) was Downgraded by Standpoint Research to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Standpoint Research advised their investors in a research report released on Aug 18, 2016.
Many Wall Street Analysts have commented on Gogo Inc. Shares were Reiterated by Dougherty & Company on Jun 15, 2016 to “Buy” and Lowered the Price Target to $ 14 from a previous price target of $17 .
On the company’s financial health, Gogo Inc reported $-0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.40. The company had revenue of $147.50 million for the quarter, compared to analysts expectations of $141.46 million. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.32 EPS.
Gogo Inc closed down -0.08 points or -0.68% at $11.71 with 7,12,787 shares getting traded on Wednesday. Post opening the session at $11.87, the shares hit an intraday low of $11.63 and an intraday high of $11.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Aug 15, 2016, Robert H Mundheim (director) purchased 8,500 shares at $11.53 per share price. According to the SEC, on Aug 10, 2016, Charles C Townsend (director) purchased 200,000 shares at $10.73 per share price. On Aug 9, 2016, Ash A Eldifrawi (EVP and CCO) purchased 50,000 shares at $10.56 per share price, according to the Form-4 filing with the securities and exchange commission.
Gogo Inc. is a holding company. The Company is an aero communications service provider. The Company operates through three segments: Commercial Aviation North America (CA-NA) Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA). Its services include global network solutions which include ATG/ATG-4 Ku/2Ku Global Xpress and Iridium and SwiftBroadband (SBB); equipment and equipment related services which include a package of airborne equipment for its ATG/ATG-4 and satellite services; passenger services which include passenger connectivity passenger entertainment and portal content; airline/owner/operator services which include account support network monitoring and management services passenger support services and portal design development and hosting and operations-oriented communications services which include providing commercial airlines and business aircraft owners and operators the access to use applications requiring connectivity.