Gogo Inc. (NASDAQ:GOGO) to Post Q3 2024 Earnings of $0.09 Per Share, Roth Capital Forecasts

Gogo Inc. (NASDAQ:GOGO) – Investment analysts at Roth Capital increased their Q3 2024 earnings per share estimates for Gogo in a research note issued on Tuesday, September 17th. Roth Capital analyst S. Searle now anticipates that the technology company will post earnings per share of $0.09 for the quarter, up from their previous estimate of $0.04. The consensus estimate for Gogo’s current full-year earnings is $0.35 per share. Roth Capital also issued estimates for Gogo’s Q4 2024 earnings at $0.10 EPS, FY2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.18 EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at $0.66 EPS and FY2026 earnings at $0.89 EPS.

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

Gogo Stock Up 1.5 %

GOGO opened at $6.88 on Thursday. The company has a fifty day moving average of $8.10 and a two-hundred day moving average of $8.90. The stock has a market capitalization of $874.48 million, a price-to-earnings ratio of 5.88 and a beta of 1.11. Gogo has a fifty-two week low of $6.72 and a fifty-two week high of $12.72. The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95.

Gogo (NASDAQ:GOGO) last posted 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 firm had revenue of $102.10 million for the quarter, compared to analysts’ expectations of $99.02 million. During the same period last year, the firm earned $0.20 earnings per share. Gogo’s revenue for the quarter was down 1.1% compared to the same quarter last year.

Institutional Trading of Gogo

A number of institutional investors and hedge funds have recently modified their holdings of GOGO. Point72 Asia Singapore Pte. Ltd. purchased a new position in Gogo in the 2nd quarter valued at about $107,000. AQR Capital Management LLC purchased a new position in shares of Gogo in the second quarter valued at approximately $108,000. SG Americas Securities LLC acquired a new stake in shares of Gogo in the second quarter worth approximately $109,000. Point72 DIFC Ltd purchased a new stake in shares of Gogo during the second quarter worth approximately $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Gogo by 67.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock worth $166,000 after purchasing an additional 6,941 shares in the last quarter. Hedge funds and other institutional investors 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.