Roth Capital Analysts Boost Earnings Estimates for Gogo Inc. (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) – Analysts at Roth Capital boosted their Q3 2024 earnings per share estimates for shares of Gogo in a research note issued on Tuesday, September 17th. Roth Capital analyst S. Searle now anticipates that the technology company will post earnings of $0.09 per share for the quarter, up from their prior estimate of $0.04. The consensus estimate for Gogo’s current full-year earnings is $0.35 per share. Roth Capital also issued estimates for Gogo’s Q4 2024 earnings at $0.10 EPS, FY2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.18 EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at $0.66 EPS and FY2026 earnings at $0.89 EPS.

Gogo (NASDAQ:GOGO) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $102.10 million during the quarter, compared to the consensus estimate of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.20 EPS.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Morgan Stanley reduced their price objective on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Roth Mkm reiterated a “buy” rating and issued a $15.50 target price on shares of Gogo in a research report on Tuesday.

Gogo Price Performance

Shares of NASDAQ:GOGO opened at $6.89 on Thursday. Gogo has a one year low of $6.72 and a one year high of $12.61. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16. The company has a market cap of $875.75 million, a price-to-earnings ratio of 5.89 and a beta of 1.11. The firm has a 50 day simple moving average of $8.06 and a 200 day simple moving average of $8.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GOGO. Vanguard Group Inc. grew its holdings in Gogo by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,748,287 shares of the technology company’s stock worth $50,470,000 after acquiring an additional 44,340 shares during the period. Burgundy Asset Management Ltd. increased its holdings 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 worth $29,901,000 after purchasing an additional 43,805 shares in the last quarter. Capco Asset Management LLC lifted its stake 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 buying an additional 41,866 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Gogo by 7.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock worth $19,949,000 after buying an additional 152,338 shares in the last quarter. Finally, LB Partners LLC grew its position in shares of Gogo by 31.0% during the 1st quarter. LB Partners LLC now owns 1,895,606 shares of the technology company’s stock worth $16,643,000 after buying an additional 448,918 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.

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.