Gogo (NASDAQ:GOGO - Get Free Report) is set to issue 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.Investors that wish to listen to the company's conference call can do so using this link.
Gogo (NASDAQ:GOGO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The business had revenue of $97.81 million for the quarter, compared to analysts' expectations of $96.56 million. During the same period in the prior year, the firm earned $0.21 EPS. The business's quarterly revenue was down 9.6% on a year-over-year basis. On average, analysts expect Gogo to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Gogo Stock Performance
NASDAQ:GOGO traded down $0.29 during midday trading on Tuesday, reaching $9.06. 1,478,198 shares of the company traded hands, compared to its average volume of 944,179. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 8.58 and a beta of 1.08. The company has a fifty day moving average price of $8.61 and a 200 day moving average price of $9.50. The company has a debt-to-equity ratio of 14.43, a current ratio of 4.37 and a quick ratio of 3.49. Gogo has a twelve month low of $7.53 and a twelve month high of $17.94.
Insider Activity at Gogo
In related news, Director Harris N. Williams bought 12,000 shares of the firm's stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Charles C. Townsend purchased 28,857 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $9.03 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harris N. Williams acquired 12,000 shares of the company's stock in a transaction dated 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 purchase, the director now directly owns 20,990 shares in the company, valued at approximately $170,019. The disclosure for this purchase can be found here. Company insiders own 26.00% of the company's stock.
Wall Street Analysts Forecast Growth
GOGO has been the subject of several analyst reports. Morgan Stanley reduced their price target on shares of 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. started coverage on shares of Gogo in a research note on Thursday, February 29th. They set a "neutral" rating and a $11.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Gogo presently has an average rating of "Hold" and a consensus price target of $15.30.
View Our Latest Research Report on GOGO
Gogo Company Profile
(
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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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