Roth Capital Has Strong Forecast for Gogo FY2024 Earnings

Gogo Inc. (NASDAQ:GOGO) – Stock analysts at Roth Capital increased their FY2024 earnings per share (EPS) estimates for Gogo in a note issued to investors on Tuesday, November 5th. Roth Capital analyst S. Searle now forecasts that the technology company will post earnings of $0.39 per share for the year, up from their prior forecast 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.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. lowered their target price on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Morgan Stanley dropped their price objective on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $15.50 target price on shares of Gogo in a research note 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 quick ratio of 3.16 and a current ratio of 3.95. Gogo has a 52 week low of $6.17 and a 52 week high of $11.17. The stock has a market capitalization of $1.01 billion, a P/E ratio of 15.55 and a beta of 1.10. The stock has a fifty day moving average of $7.12 and a 200-day moving average of $8.51.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GOGO. Select Equity Group L.P. bought a new stake in shares of Gogo in the second quarter worth $2,764,000. LB Partners LLC lifted its stake in shares of Gogo by 12.4% in the third quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock worth $14,683,000 after acquiring an additional 225,000 shares during the period. Millennium Management LLC boosted its holdings in Gogo by 19.0% in the second quarter. Millennium Management LLC now owns 814,833 shares of the technology company’s stock valued at $7,839,000 after acquiring an additional 130,344 shares during the last quarter. William Blair Investment Management LLC increased its position in Gogo by 7.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after purchasing an additional 152,338 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of Gogo in the 3rd quarter worth approximately $34,000. 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.