Gogo (GOGO) Scheduled to Post Quarterly Earnings on Tuesday

Gogo (NASDAQ:GOGO) will 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.Parties interested in participating in the company’s conference call can do so using this link.

Gogo (NASDAQ:GOGO) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $97.81 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm 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 Up 2.3 %

GOGO stock opened at $9.35 on Tuesday. The business’s fifty day moving average price is $8.61 and its two-hundred day moving average price is $9.50. Gogo has a fifty-two week low of $7.53 and a fifty-two week high of $17.94. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 8.58 and a beta of 1.08. The company has a debt-to-equity ratio of 14.43, a current ratio of 4.37 and a quick ratio of 3.49.

Wall Street Analyst Weigh In

GOGO has been the topic of a number of recent research reports. Morgan Stanley cut their price target on Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 16th. JPMorgan Chase & Co. started coverage on 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 given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.30.

Insider Activity at Gogo

In other Gogo news, Director Charles C. Townsend acquired 28,857 shares of Gogo stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $9.03 per share, for a total transaction of $260,578.71. Following the purchase, the director now directly owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Gogo news, Director Harris N. Williams bought 12,000 shares of Gogo stock in a transaction dated Thursday, February 29th. The stock was purchased at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the completion of the purchase, the director now directly owns 20,990 shares of the company’s stock, valued at $170,019. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles C. Townsend acquired 28,857 shares of Gogo stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $9.03 per share, with a total value of $260,578.71. Following the completion of the purchase, the director now directly 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 company insiders.

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.