Boingo Wireless Inc. (WIFI) Price Target Raised to $13.00
Boingo Wireless Inc. (NASDAQ:WIFI) had its price target hoisted by Jefferies Group from $11.00 to $13.00 in a research report sent to investors on Monday. The firm currently has a buy rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Ladenburg Thalmann restated a buy rating and set a $12.25 price objective on shares of Boingo Wireless in a research note on Thursday, August 11th. Zacks Investment Research upgraded shares of Boingo Wireless from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research note on Thursday, October 6th. Craig Hallum lifted their price objective on shares of Boingo Wireless from $11.00 to $13.00 and gave the company a buy rating in a research note on Friday, November 4th. Oppenheimer Holdings Inc. initiated coverage on shares of Boingo Wireless in a research note on Tuesday, September 13th. They set an outperform rating and a $12.00 price objective on the stock. Finally, BTIG Research began coverage on shares of Boingo Wireless in a research note on Monday, July 11th. They set a sell rating and a $6.85 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Boingo Wireless has a consensus rating of Buy and a consensus target price of $11.39.
Boingo Wireless (NASDAQ:WIFI) opened at 10.72 on Monday. The stock’s market capitalization is $410.27 million. The firm has a 50-day moving average of $9.95 and a 200-day moving average of $8.77. Boingo Wireless has a 12-month low of $5.40 and a 12-month high of $11.20.
Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Boingo Wireless had a negative net margin of 17.38% and a negative return on equity of 24.90%. The business had revenue of $40.80 million for the quarter, compared to analysts’ expectations of $41.28 million. During the same period in the previous year, the business earned ($0.13) earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Boingo Wireless will post ($0.71) earnings per share for the current fiscal year.
In other Boingo Wireless news, insider Dawn Callahan sold 12,500 shares of Boingo Wireless stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $9.86, for a total transaction of $123,250.00. Following the transaction, the insider now owns 18,847 shares of the company’s stock, valued at approximately $185,831.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Tom Tracey sold 3,750 shares of Boingo Wireless stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $8.44, for a total value of $31,650.00. Following the transaction, the vice president now directly owns 46,299 shares in the company, valued at approximately $390,763.56. The disclosure for this sale can be found here. 7.50% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD boosted its position in Boingo Wireless by 48.1% in the third quarter. BlackRock Group LTD now owns 12,612 shares of the company’s stock valued at $130,000 after buying an additional 4,094 shares during the period. BlackRock Advisors LLC boosted its position in Boingo Wireless by 2.3% in the second quarter. BlackRock Advisors LLC now owns 18,778 shares of the company’s stock valued at $167,000 after buying an additional 417 shares during the period. Balter Liquid Alternatives LLC acquired a new position in Boingo Wireless during the second quarter valued at $197,000. Schroder Investment Management Group boosted its position in Boingo Wireless by 29.3% in the third quarter. Schroder Investment Management Group now owns 28,835 shares of the company’s stock valued at $296,000 after buying an additional 6,526 shares during the period. Finally, Prudential Financial Inc. acquired a new position in Boingo Wireless during the first quarter valued at $340,000. 86.57% of the stock is currently owned by institutional investors.
Boingo Wireless Company Profile
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services for carriers. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices segment.
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