Morgan Stanley Maintains Gogo Inc to Underweight with Price Target $8.00

Brokerage firm Morgan Stanley Maintains its rating on Gogo Inc(NASDAQ:GOGO). In a research note issued to the investors, the brokerage major Lowers the price-target to $8.00 per share. The shares have been rated Underweight. The rating by Morgan Stanley was issued on Jul 28, 2016.

In a different note, Standpoint Research said it Initiates Coverage on Gogo Inc, according to a research note issued on Jun 23, 2016. The shares have been rated ‘Buy’ by the firm.

Gogo Inc (GOGO) made into the market gainers list on Thursdays trading session with the shares advancing 15.91% or 1.34 points. Due to strong positive momentum, the stock ended at $9.76, which is also near the day’s high of $9.84. The stock began the session at $8.99 and the volume stood at 42,03,414 shares. The 52-week high of the shares is $19.61 and the 52 week low is $7.8. The company has a current market capitalization of $839 M and it has 8,59,56,266 shares in outstanding.

Gogo Inc(GOGO) last announced its earnings results on May 6, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $141.75M. Analysts had an estimated revenue of $137.59M. Earnings per share were $-0.31. Analysts had estimated an EPS of $-0.42.

Several Insider Transactions has been reported to the SEC. On Nov 25, 2015, Arbela Takhsh (SVP, Quality Assurance) sold 500 shares at $18.00 per share price.Also, On Nov 18, 2015, Charles C Townsend (director) purchased 300 shares at $15.40 per share price.On Apr 20, 2015, John Wade (EVP and GM, Bus. Aviation) sold 10,000 shares at $22.00 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *