JPMorgan maintains a Neutral rating and $11 price target on GOGO. Gogo's Q1 results beat expectations with a revenue forecast of $906 million. Petti anticipates strong cash flow generation and buybacks resuming by 2026. Analyst notes GOGO's growth strategy needs further acceleration. Shares rose 13.64% to $12.50 following positive performance indicators.
Gogo expected Q1 earnings at 8 cents, down from 16 cents last year. Projected revenue for Gogo is $214.44 million, up from $104.32 million. Analysts show mixed sentiment with lowered price targets for Gogo. Gogo shares gained 0.5% closing at $7.57 prior to earnings report. Oakleigh Thorne recently appointed as Executive Chairman of Gogo.
Gogo will release Q4 financial results on March 14. Analysts predict earnings dropped to 9 cents per share. Revenue expected to be slightly down at $97.8 million. Gogo's acquisition of Satcom Direct was completed in December 2024. Shares fell 1.2% to close at $6.87 recently.
Gogo acquires Satcom Direct for $375 million and shares. Acquisition reinforces Gogo's growth in business aviation connectivity market. Pro forma revenue projected at $890 million for 2024 post-acquisition. Gogo's advanced 5G network enhances expectations for inflight connectivity. Combination aims to enter military and government mobility verticals.