Gogo Inc. to post earnings of $0.04 per share in Q3 2024, Roth Capital (NASDAQ:GOGO) forecasts

Gogo Inc. (NASDAQ:GOGO – Free Report ) – Stock analysts at Roth Capital cut their Q3 2024 earnings per share (EPS) estimates for Gogo in a research note issued to investors on Wednesday, August 7th. Roth Capital analyst S. Searle now anticipates that the technology company will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.07. 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 $0.05, Q1 2025 at $0.07, Q4 2025 at $0.14, Q1 2026 at $0.14 and Q2 2026 at $0.15.

Gogo (NASDAQ:GOGO – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.10. Gogo had a return on equity of 229.65% and a net margin of 38.61%. The business had revenue of $104.32 million during the quarter, compared to analysts’ expectations of $96.62 million.

Other research analysts have recently issued reports on the company. Morgan Stanley reduced 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. JPMorgan Chase & Co. cut their price target on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat , Gogo has an average rating of “Hold” and an average target price of $15.38.

See the latest inventory analysis on GOGO

Gogo stock down 1.4%

Shares of NASDAQ:GOGO opened at $7.63 on Friday. Gogo has a fifty-two week low of $7.38 and a fifty-two week high of $12.95. The company has a quick ratio of 3.33, a current ratio of 4.20, and a debt-to-equity ratio of 9.39. The stock has a market cap of $969.81 million, a price-to-earnings ratio of 6.49 and a beta of 1.13. The company’s 50-day moving average price is $9.37 and its 200-day moving average price is $9.24.

Hedge funds are weighing on Gogo

A number of institutional investors and hedge funds have recently made changes to their positions in GOGO. Burgundy Asset Management Ltd. boosted its holdings in shares of Gogo by 20.0% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,399,618 shares of the technology company’s stock valued at $24,308,000 after purchasing another 400,487 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Gogo in the first quarter valued at $736,000. Aigen Investment Management LP purchased a new position in shares of Gogo in the 4th quarter valued at about $256,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Gogo by 12.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock valued at $187,000 after buying an additional 2,390 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gogo during the fourth quarter valued at about $203,000. 69.60% of shares are owned by institutional investors and hedge funds.

Gogo Company Profile

(Get a free report)

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. Provides systems in flight; services on board; support for aviation partners; and engineering, design and development services, as well as manufacturing operations functions.

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