Gogo (GOGO) Set to Announce Quarterly Earnings on Tuesday

Gogo (NASDAQ:GOGO) is set to 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.Individual that wish to register for the company’s earnings conference call can do so using this link.

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

Gogo Price Performance

Shares of GOGO opened at $9.35 on Tuesday. The company has a debt-to-equity ratio of 14.43, a current ratio of 4.37 and a quick ratio of 3.49. The company’s fifty day moving average price is $8.61 and its 200-day moving average price is $9.50. Gogo has a 1-year low of $7.53 and a 1-year high of $17.94. The firm has a market capitalization of $1.20 billion, a PE ratio of 8.58 and a beta of 1.08.

Insider Activity at Gogo

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

Wall Street Analysts Forecast Growth

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

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.