Last week saw the newest full-year earnings release from Gogo Inc. (NASDAQ:GOGO), an important milestone in the company's journey to build a stronger business. Gogo reported US$398m in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$1.09 beat expectations, being 6.3% higher than what the analysts expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Gogo after the latest results.

See our latest analysis for Gogo

Taking into account the latest results, the most recent consensus for Gogo from seven analysts is for revenues of US$417.5m in 2024. If met, it would imply a credible 5.0% increase on its revenue over the past 12 months. Statutory earnings per share are forecast to nosedive 64% to US$0.40 in the same period. In the lead-up to this report, the analysts had been modelling revenues of US$421.8m and earnings per share (EPS) of US$0.58 in 2024. The analysts seem to have become more bearish following the latest results. While there were no changes to revenue forecasts, there was a large cut to EPS estimates.

The average price target fell 15% to US$14.40, with reduced earnings forecasts clearly tied to a lower valuation estimate. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic Gogo analyst has a price target of US$20.00 per share, while the most pessimistic values it at US$10.00. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Gogo's past performance and to peers in the same industry. For example, we noticed that Gogo's rate of growth is expected to accelerate meaningfully, with revenues forecast to exhibit 5.0% growth to the end of 2024 on an annualised basis. That is well above its historical decline of 3.0% a year over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 3.4% per year. Not only are Gogo's revenues expected to improve, it seems that the analysts are also expecting it to grow faster than the wider industry.