Gogo (GOGO) to Release Earnings on Tuesday

Gogo (NASDAQ:GOGO) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Gogo has set its FY 2024 guidance at EPS.Persons interested in listening to 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, meeting the consensus estimate of $0.11. The company had revenue of $97.81 million for the quarter, compared to the consensus estimate of $96.56 million. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $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 Stock Performance

GOGO opened at $9.02 on Monday. 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 business has a fifty day simple moving average of $8.62 and a 200 day simple moving average of $9.43. Gogo has a 1 year low of $7.53 and a 1 year high of $17.94. The company has a market capitalization of $1.16 billion, a PE ratio of 8.28 and a beta of 1.04.

Insider Activity at Gogo

In other news, Director Charles C. Townsend purchased 28,857 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $9.03 per share, with a total value of $260,578.71. Following the completion of the purchase, the director now owns 1,740,588 shares of the company’s stock, valued at approximately $15,717,509.64. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Harris N. Williams acquired 12,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was bought at an average cost of $8.10 per share, for a total transaction of $97,200.00. Following the completion of the transaction, the director now directly owns 20,990 shares of the company’s stock, valued at $170,019. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles C. Townsend acquired 28,857 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $9.03 per share, with a total value of $260,578.71. Following the completion of the transaction, the director now owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. 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 research analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Gogo from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 16th. JPMorgan Chase & Co. started coverage on shares of Gogo in a research report on Thursday, February 29th. They issued 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 company’s stock. According to MarketBeat, Gogo currently has an average rating of “Hold” and a consensus 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.