Gogo (NASDAQ:GOGO) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Gogo (NASDAQ:GOGO - Get Free Report) released its earnings results on Friday. The technology company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.13, Zacks reports. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The firm had revenue of $230.31 million during the quarter, compared to the consensus estimate of $214.93 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The firm's revenue for the quarter was up 120.8% compared to the same quarter last year. Gogo updated its FY 2025 guidance to EPS.

Gogo Price Performance

Shares of NASDAQ:GOGO opened at $10.98 on Friday. The company has a market capitalization of $1.45 billion, a PE ratio of 25.53 and a beta of 0.93. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The stock has a fifty day moving average of $7.52 and a 200-day moving average of $7.72. Gogo has a one year low of $6.17 and a one year high of $11.34.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GOGO shares. Roth Mkm cut their price objective on Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a report on Monday, March 17th. StockNews.com downgraded shares of Gogo from a "hold" rating to a "sell" rating in a report on Monday, March 17th.

Insider Buying and Selling

In related news, Director Oakleigh Thorne purchased 30,173 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the transaction, the director now directly owns 711,341 shares of the company's stock, valued at $4,673,510.37. This trade represents a 4.43 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 26.00% of the company's stock.

Institutional Trading of Gogo

A hedge fund recently raised its stake in Gogo stock. Brighton Jones LLC lifted its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 69.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,000 shares of the technology company's stock after acquiring an additional 6,978 shares during the period. Brighton Jones LLC's holdings in Gogo were worth $138,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.

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