Research Analysts Set Expectations for Gogo Q4 Earnings

Gogo Inc. (NASDAQ:GOGO) – Analysts at William Blair reduced their Q4 2024 earnings estimates for Gogo in a research note issued to investors on Tuesday, November 5th. William Blair analyst L. Dipalma now expects that the technology company will earn $0.01 per share for the quarter, down from their prior estimate of $0.06. The consensus estimate for Gogo’s current full-year earnings is $0.35 per share. William Blair also issued estimates for Gogo’s FY2025 earnings at $0.76 EPS.

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

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley cut their price target on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, September 3rd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $15.50 price objective on shares of Gogo in a report on Tuesday, September 17th.

Gogo Price Performance

Gogo stock opened at $7.93 on Thursday. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16. The business has a 50 day simple moving average of $7.12 and a 200-day simple moving average of $8.51. Gogo has a 12 month low of $6.17 and a 12 month high of $11.17. The stock has a market capitalization of $1.01 billion, a PE ratio of 15.55 and a beta of 1.10.

Institutional Investors Weigh In On Gogo

A number of hedge funds and other institutional investors have recently bought and sold shares of GOGO. State Board of Administration of Florida Retirement System grew its stake in shares of Gogo by 12.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock worth $187,000 after purchasing an additional 2,390 shares during the period. Texas Permanent School Fund Corp grew its position in Gogo by 7.2% during the second quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock worth $553,000 after buying an additional 3,845 shares during the period. nVerses Capital LLC purchased a new position in Gogo in the third quarter valued at about $34,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Gogo by 11.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,770 shares of the technology company’s stock valued at $481,000 after acquiring an additional 5,688 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in shares of Gogo by 4.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 134,206 shares of the technology company’s stock worth $1,291,000 after acquiring an additional 5,869 shares in the last quarter. Institutional investors and hedge funds 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.