William Blair Weighs in on Gogo’s Q4 Earnings (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) – Equities researchers at William Blair decreased their Q4 2024 earnings per share (EPS) estimates for Gogo in a research note issued to investors on Tuesday, November 5th. William Blair analyst L. Dipalma now forecasts that the technology company will earn $0.01 per share for the quarter, down from their previous forecast 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 issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $102.10 million for the quarter, compared to analysts’ expectations of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS.

Several other equities analysts have also issued reports on the company. 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. Morgan Stanley dropped their price objective on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $15.50 price objective on shares of Gogo in a report on Tuesday, September 17th.

Gogo Stock Performance

Shares of GOGO stock opened at $8.02 on Thursday. The stock’s 50-day moving average is $7.11 and its two-hundred day moving average is $8.51. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 15.73 and a beta of 1.10. Gogo has a 1 year low of $6.17 and a 1 year high of $11.17. The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95.

Hedge Funds Weigh In On Gogo

A number of hedge funds and other institutional investors have recently made changes to their positions in GOGO. Vanguard Group Inc. lifted its position in Gogo by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,748,287 shares of the technology company’s stock valued at $50,470,000 after purchasing an additional 44,340 shares during the period. Burgundy Asset Management Ltd. lifted its position in Gogo by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock valued at $29,901,000 after purchasing an additional 43,805 shares during the period. Capco Asset Management LLC lifted its position in Gogo by 1.7% in the second quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock valued at $23,857,000 after purchasing an additional 41,866 shares during the period. William Blair Investment Management LLC lifted its position in Gogo by 7.9% in the second 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, LB Partners LLC lifted its position in Gogo by 12.4% in the third quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock valued at $14,683,000 after purchasing an additional 225,000 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

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.