Gogo (GOGO) to Release Quarterly Earnings on Tuesday

Gogo (NASDAQ:GOGO) will be posting 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 are interested in registering for the company’s earnings conference call can do so using this link.

Gogo (NASDAQ:GOGO) last posted its earnings results on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The company had revenue of $97.81 million for the quarter, compared to the consensus estimate of $96.56 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter 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 Performance

NASDAQ:GOGO opened at $9.02 on Monday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 8.28 and a beta of 1.04. Gogo has a 1 year low of $7.53 and a 1 year high of $17.94. The stock’s 50 day simple moving average is $8.62 and its two-hundred day simple moving average is $9.43. The company has a debt-to-equity ratio of 14.43, a current ratio of 4.37 and a quick ratio of 3.49.

Insider Buying and Selling at Gogo

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

Analyst Upgrades and Downgrades

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

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.