Gogo (GOGO) Set to Announce Quarterly Earnings on Tuesday

Gogo (NASDAQ:GOGO) is set to post 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.Persons interested in listening to the company’s earnings conference call can do so using this link.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $97.81 million for the quarter, compared to analysts’ expectations of $96.56 million. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. Gogo’s revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. On average, analysts expect Gogo to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Gogo Stock Down 1.0 %

Shares of NASDAQ:GOGO opened at $9.02 on Friday. Gogo has a fifty-two week low of $7.53 and a fifty-two week high of $17.94. The company has a quick ratio of 3.49, a current ratio of 4.37 and a debt-to-equity ratio of 14.43. The firm’s 50-day simple moving average is $8.62 and its 200-day simple moving average is $9.44. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 8.28 and a beta of 1.04.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

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