Boingo Wireless Inc. (WIFI) Receives $11.44 Average PT from Analysts
Boingo Wireless Inc. (NASDAQ:WIFI) has been given a consensus recommendation of “Buy” by the nine ratings firms that are presently covering the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $11.44.
Several research analysts have recently weighed in on the company. Jefferies Group boosted their target price on Boingo Wireless from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, November 7th. Zacks Investment Research cut Boingo Wireless from a “buy” rating to a “hold” rating in a report on Tuesday, October 25th. Craig Hallum boosted their target price on Boingo Wireless from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 4th. Ladenburg Thalmann reaffirmed a “buy” rating and set a $12.25 price target on shares of Boingo Wireless in a research report on Thursday, August 11th. Finally, Oppenheimer Holdings Inc. started coverage on shares of Boingo Wireless in a research report on Tuesday, September 13th. They set an “outperform” rating and a $12.00 price target on the stock.
In other news, insider Dawn Callahan sold 12,500 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $9.86, for a total transaction of $123,250.00. Following the sale, the insider now owns 18,847 shares of the company’s stock, valued at $185,831.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Tom Tracey sold 3,750 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $8.44, for a total value of $31,650.00. Following the sale, 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 company insiders.
Hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC bought a new stake in Boingo Wireless during the third quarter worth $115,000. BlackRock Group LTD raised its stake in Boingo Wireless by 48.1% in the third quarter. BlackRock Group LTD now owns 12,612 shares of the company’s stock worth $130,000 after buying an additional 4,094 shares in the last quarter. BlackRock Advisors LLC raised its stake in Boingo Wireless by 2.3% in the second quarter. BlackRock Advisors LLC now owns 18,778 shares of the company’s stock worth $167,000 after buying an additional 417 shares in the last quarter. Morgan Stanley raised its stake in Boingo Wireless by 45.8% in the third quarter. Morgan Stanley now owns 20,148 shares of the company’s stock worth $207,000 after buying an additional 6,331 shares in the last quarter. Finally, Balter Liquid Alternatives LLC bought a new stake in Boingo Wireless during the second quarter worth $197,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.
Boingo Wireless (NASDAQ:WIFI) opened at 11.85 on Wednesday. Boingo Wireless has a 52 week low of $5.40 and a 52 week high of $11.91. The company’s market cap is $453.59 million. The company has a 50-day moving average price of $10.26 and a 200 day moving average price of $8.93.
Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Thursday, November 3rd. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The business had revenue of $40.80 million for the quarter, compared to analysts’ expectations of $41.28 million. Boingo Wireless had a negative return on equity of 25.35% and a negative net margin of 17.38%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) EPS. On average, equities research analysts forecast that Boingo Wireless will post ($0.71) EPS for the current fiscal year.
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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