Q3 2024 EPS Estimates for Gogo Inc. Lifted by Analyst (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) – Investment analysts at Roth Capital raised their Q3 2024 earnings estimates for shares of Gogo in a research report 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.

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 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 business had revenue of $102.10 million for the quarter, compared to analyst estimates of $99.02 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year.

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

Gogo Price Performance

Shares of GOGO opened at $6.89 on Thursday. The company’s 50-day moving average is $8.06 and its 200-day moving average is $8.89. 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 firm has a market capitalization of $875.75 million, a PE ratio of 5.89 and a beta of 1.11. Gogo has a fifty-two week low of $6.72 and a fifty-two week high of $12.61.

Institutional Investors Weigh In On Gogo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Gogo during the 2nd quarter worth $107,000. AQR Capital Management LLC bought a new position in shares of Gogo in the second quarter worth $108,000. SG Americas Securities LLC acquired a new position in Gogo in the second quarter valued at about $109,000. Point72 DIFC Ltd bought a new stake in Gogo during the second quarter worth about $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 buying an additional 6,941 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

About Gogo

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.