11 Best Breakout Stocks to Buy According to Analysts

4. Gogo Inc. (NASDAQ:GOGO)

Stock Upside Potential as of May 2: 71.73%

Number of Hedge Fund Holders: 26

Gogo Inc. (NASDAQ:GOGO) is a communication services company that provides broadband connectivity services to the aviation industry. Its product platform includes networks, antennas, and airborne equipment that allow it to offer in-flight systems, in-flight services, and aviation partner support. While the stock is down by about 5% for the year, Roth MKM maintains a Buy rating with a $13 price target.

Roth MKM’s bullish stance stems from MKM delivering solid financial results that affirm underlying growth. In its fourth quarter of fiscal 2024, revenue was up 41% year over year to $137.8 million, driven by a 47% increase in service revenue. The robust revenue growth came as the company completed the acquisition of Satcom Direct, which created the only multi-orbit, multi-band, in-flight connectivity provider.

Following the acquisition, Gogo Inc. (NASDAQ:GOGO) has inked a multi-faceted memorandum of understanding with Airbus to offer Airbus ACJ operators the highest standard connectivity solutions. The two also join forces to create an industry-leading product portfolio that provides best-in-class solutions for all aircraft types. It also kickstarted a new era of inflight connectivity.