Gogo (NASDAQ:GOGO) Issues Earnings Results, Misses Estimates By $0.12 EPS

Gogo (NASDAQ:GOGO) posted its earnings results on Thursday. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12), Briefing.com reports. The company had revenue of $223.59 million during the quarter, compared to the consensus estimate of $222.23 million. Gogo had a net margin of 1.05% and a return on equity of 88.04%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. Gogo updated its FY 2025 guidance to EPS.

Gogo Trading Up 0.5%

Shares of GOGO stock traded up $0.04 on Friday, hitting $7.65. The stock had a trading volume of 847,751 shares, compared to its average volume of 1,725,337. The firm has a market cap of $1.02 billion, a P/E ratio of 190.05 and a beta of 1.04. Gogo has a twelve month low of $6.20 and a twelve month high of $16.82. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 8.10. The company has a fifty day moving average price of $9.34 and a two-hundred day moving average price of $11.39.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOGO. Weiss Ratings restated a “sell (d+)” rating on shares of Gogo in a research report on Wednesday, October 8th. Morgan Stanley started coverage on shares of Gogo in a research note on Thursday, August 14th. They set an “equal weight” rating and a $15.00 price target on the stock. Finally, Wall Street Zen downgraded Gogo from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Gogo has an average rating of “Hold” and an average price target of $14.83.

Institutional Investors Weigh In On Gogo

A number of large investors have recently added to or reduced their stakes in GOGO. Brighton Jones LLC lifted its holdings in shares of Gogo by 69.6% during the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock worth $138,000 after buying an additional 6,978 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Gogo by 43.4% in the 1st quarter. AQR Capital Management LLC now owns 47,219 shares of the technology company’s stock valued at $407,000 after acquiring an additional 14,293 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Gogo by 6.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,205 shares of the technology company’s stock valued at $338,000 after purchasing an additional 2,342 shares in the last quarter. Millennium Management LLC boosted its holdings in Gogo by 439.5% during the first quarter. Millennium Management LLC now owns 709,003 shares of the technology company’s stock worth $6,112,000 after purchasing an additional 577,575 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Gogo by 23.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 294,173 shares of the technology company’s stock valued at $2,536,000 after acquiring an additional 56,232 shares during the last quarter. 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.