Roth Capital Has Bullish Forecast for Gogo FY2024 Earnings

Gogo Inc. (NASDAQ:GOGO) – Equities researchers at Roth Capital boosted their FY2024 earnings per share estimates for Gogo in a report released on Tuesday, November 5th. Roth Capital analyst S. Searle now anticipates that the technology company will earn $0.39 per share for the year, up from their prior forecast of $0.36. The consensus estimate for Gogo’s current full-year earnings is $0.35 per share. Roth Capital also issued estimates for Gogo’s Q1 2025 earnings at $0.06 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.09 EPS, Q4 2025 earnings at $0.13 EPS, FY2025 earnings at $0.37 EPS, Q2 2026 earnings at $0.14 EPS and Q3 2026 earnings at $0.15 EPS.

Other equities research analysts also recently issued reports about the company. Roth Mkm reaffirmed a “buy” rating and issued a $15.50 price target on shares of Gogo in a research report on Tuesday, September 17th. Morgan Stanley lowered their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. cut their price target on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th.

Gogo Stock Performance

Shares of GOGO opened at $8.02 on Thursday. The company has a market capitalization of $1.02 billion, a PE ratio of 15.73 and a beta of 1.10. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16. Gogo has a one year low of $6.17 and a one year high of $11.17. The company’s fifty day moving average price is $7.11 and its 200 day moving average price is $8.51.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $102.10 million for 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%. Gogo’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Select Equity Group L.P. acquired a new stake in Gogo during the second quarter worth about $2,764,000. LB Partners LLC lifted its position in shares of Gogo by 12.4% in the 3rd quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock worth $14,683,000 after acquiring an additional 225,000 shares during the period. Millennium Management LLC grew its holdings in shares of Gogo by 19.0% during the 2nd quarter. Millennium Management LLC now owns 814,833 shares of the technology company’s stock worth $7,839,000 after purchasing an additional 130,344 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Gogo by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after purchasing an additional 152,338 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of Gogo in the third quarter valued at $34,000. Institutional investors own 69.60% of the company’s stock.

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.