Q3 2024 Earnings Forecast for Gogo Inc. (NASDAQ:GOGO) Issued By William Blair

Gogo Inc. (NASDAQ:GOGO) – Equities research analysts at William Blair lowered their Q3 2024 earnings per share (EPS) estimates for Gogo in a research note issued to investors on Wednesday, August 7th. William Blair analyst L. Dipalma now anticipates that the technology company will post earnings of $0.06 per share for the quarter, down from their prior forecast of $0.07. The consensus estimate for Gogo’s current full-year earnings is $0.35 per share. William Blair also issued estimates for Gogo’s Q4 2024 earnings at $0.06 EPS.

Gogo (NASDAQ:GOGO) last released its earnings results on Wednesday, August 7th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $102.10 million for the quarter, compared to analyst estimates of $99.02 million. Gogo had a net margin of 38.61% and a return on equity of 229.65%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share.

Other equities research analysts also recently issued reports about the company. Morgan Stanley reduced their target price on Gogo from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, April 16th. JPMorgan Chase & Co. reduced their price objective on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.38.

Gogo Price Performance

Shares of NASDAQ:GOGO opened at $7.63 on Friday. The company has a market capitalization of $969.81 million, a PE ratio of 6.52 and a beta of 1.13. The company has a debt-to-equity ratio of 9.39, a quick ratio of 3.33 and a current ratio of 4.20. The stock has a fifty day moving average of $9.31 and a 200-day moving average of $9.23. Gogo has a one year low of $7.38 and a one year high of $12.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Gogo during the second quarter valued at approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Gogo by 67.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock valued at $166,000 after acquiring an additional 6,941 shares in the last quarter. State Board of Administration of Florida Retirement System increased 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 worth $187,000 after acquiring an additional 2,390 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gogo during the fourth quarter worth $203,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Gogo during the first quarter worth $221,000. Hedge funds and other 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.