Gogo (NASDAQ:GOGO) Posts Earnings Results, Misses Estimates By $0.12 EPS

Gogo (NASDAQ:GOGO) issued its earnings results on Thursday. The technology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12), Briefing.com reports. The company had revenue of $223.59 million during the quarter, compared to analyst estimates of $222.23 million. Gogo had a negative net margin of 0.65% and a positive return on equity of 71.74%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 EPS. Gogo updated its FY 2025 guidance to EPS.

Gogo Trading Up 0.4%

Shares of NASDAQ:GOGO traded up $0.03 during trading on Friday, reaching $7.64. The stock had a trading volume of 1,893,345 shares, compared to its average volume of 1,417,424. Gogo has a 52 week low of $6.20 and a 52 week high of $16.82. The company has a debt-to-equity ratio of 7.79, a quick ratio of 1.32 and a current ratio of 1.74. The firm’s fifty day moving average is $9.27 and its 200 day moving average is $11.40. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -152.80 and a beta of 1.04.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GOGO shares. Morgan Stanley initiated coverage on Gogo in a report on Thursday, August 14th. They set an “equal weight” rating and a $15.00 price target on the stock. Wall Street Zen lowered shares of Gogo from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Gogo in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.83.

Institutional Trading of Gogo

A number of institutional investors have recently bought and sold shares of GOGO. Brighton Jones LLC raised its position in shares of Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock worth $138,000 after acquiring an additional 6,978 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Gogo by 300.1% in the second quarter. Tower Research Capital LLC TRC now owns 8,163 shares of the technology company’s stock worth $120,000 after purchasing an additional 6,123 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Gogo by 40.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 66,376 shares of the technology company’s stock valued at $974,000 after buying an additional 19,138 shares during the period. Bayesian Capital Management LP acquired a new position in Gogo in the second quarter valued at approximately $1,039,000. Finally, Nebula Research & Development LLC boosted its holdings in shares of Gogo by 159.8% during the 2nd quarter. Nebula Research & Development LLC now owns 77,864 shares of the technology company’s stock worth $1,143,000 after buying an additional 47,896 shares in the last quarter. Institutional investors own 69.60% of the company’s stock.

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.