Roth Capital Has Positive Outlook of Gogo FY2024 Earnings

Gogo Inc. (NASDAQ:GOGO) – Stock analysts at Roth Capital boosted their FY2024 EPS estimates for shares of Gogo in a note issued to investors on Tuesday, November 5th. Roth Capital analyst S. Searle now anticipates that the technology company will post earnings per share of $0.39 for the year, up from their prior estimate of $0.36. The consensus estimate for Gogo’s current full-year earnings is $0.35 per share. Roth Capital also issued estimates for Gogo’s Q1 2025 earnings at $0.06 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.09 EPS, Q4 2025 earnings at $0.13 EPS, FY2025 earnings at $0.37 EPS, Q2 2026 earnings at $0.14 EPS and Q3 2026 earnings at $0.15 EPS.

Other analysts also recently issued research reports about the company. Morgan Stanley decreased their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd. Roth Mkm reiterated a “buy” rating and set a $15.50 target price on shares of Gogo in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lowered their price target on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

Gogo Trading Down 1.1 %

Shares of GOGO stock opened at $7.93 on Thursday. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 11.25. The business’s 50 day moving average is $7.12 and its two-hundred day moving average is $8.51. The company has a market cap of $1.01 billion, a PE ratio of 15.55 and a beta of 1.10. Gogo has a 12 month low of $6.17 and a 12 month high of $11.17.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a return on equity of 145.01% and a net margin of 16.59%. The company had revenue of $102.10 million for the quarter, compared to the consensus estimate of $99.02 million. During the same quarter last year, the company posted $0.20 EPS. The business’s revenue was down 1.1% compared to the same quarter last year.

Institutional Trading of Gogo

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in Gogo in the 3rd quarter valued at $34,000. Brighton Jones LLC acquired a new position in shares of Gogo in the 3rd quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Gogo in the second quarter worth about $107,000. AQR Capital Management LLC acquired a new stake in Gogo during the 2nd quarter worth approximately $108,000. Finally, SG Americas Securities LLC bought a new stake in Gogo in the 2nd quarter valued at $109,000. 69.60% of the stock is owned by institutional investors.

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.