Gogo (GOGO) Scheduled to Post Quarterly Earnings on Tuesday

Gogo (NASDAQ:GOGO) will post its quarterly earnings results before the market opens on Tuesday, May 7th. Analysts expect Gogo to post earnings of $0.07 per share for the quarter. Gogo has set its FY 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Gogo (NASDAQ:GOGO) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. The firm had revenue of $97.81 million for the quarter, compared to the consensus estimate of $96.56 million. During the same quarter last year, the firm posted $0.21 EPS. The business’s quarterly revenue was down 9.6% on a year-over-year basis. On average, analysts expect Gogo to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Gogo Stock Down 1.0 %

GOGO stock opened at $9.02 on Friday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 8.28 and a beta of 1.04. The company has a 50-day moving average of $8.62 and a two-hundred day moving average of $9.44. Gogo has a 52-week low of $7.53 and a 52-week high of $17.94. The company has a debt-to-equity ratio of 14.43, a current ratio of 4.37 and a quick ratio of 3.49.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOGO. JPMorgan Chase & Co. initiated coverage on Gogo in a research note on Thursday, February 29th. They set a “neutral” rating and a $11.00 target price for the company. Morgan Stanley reduced their price objective on Gogo from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.30.

Insider Activity at Gogo

In other news, Director Charles C. Townsend purchased 28,857 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $9.03 per share, with a total value of $260,578.71. Following the acquisition, the director now directly owns 1,740,588 shares in the company, valued at approximately $15,717,509.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Gogo news, Director Harris N. Williams acquired 12,000 shares of Gogo stock in a transaction dated Thursday, February 29th. The stock was bought at an average cost of $8.10 per share, with a total value of $97,200.00. Following the acquisition, the director now owns 20,990 shares of the company’s stock, valued at $170,019. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles C. Townsend bought 28,857 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $9.03 per share, for a total transaction of $260,578.71. Following the purchase, the director now owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The disclosure for this purchase can be found here. 26.00% of the stock is owned by corporate insiders.

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.