Standpoint Research Downgrades Gogo Inc to Hold

Brokerage firm Standpoint Research Downgrades its rating on Gogo Inc(NASDAQ:GOGO). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Standpoint Research was issued on Aug 18, 2016.

In a different note, On Aug 5, 2016, JP Morgan said it Maintains its rating on Gogo Inc. In the research note, the firm Lowers the price-target to $18.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 28, 2016, Morgan Stanley said it Maintains its rating on Gogo Inc. In the research note, the firm Lowers the price-target to $11.00 per share. The shares have been rated ‘Underweight’ by the firm. 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 Mondays trading session with the shares advancing 1.29% or 0.15 points. Due to strong positive momentum, the stock ended at $11.81, which is also near the day’s high of $11.94. The stock began the session at $11.65 and the volume stood at 8,05,940 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 $1,018 M and it has 8,61,76,803 shares in outstanding.

Gogo Inc(GOGO) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $147.54M. Analysts had an estimated revenue of $141.46M. Earnings per share were $-0.31. Analysts had estimated an EPS of $-0.40.

Several Insider Transactions has been reported to the SEC. On Aug 15, 2016, Robert H Mundheim (director) purchased 8,500 shares at $11.53 per share price.Also, 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.

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