Boingo Wireless, Inc. (WIFI) PT Raised to $17.00
Boingo Wireless, Inc. (NASDAQ:WIFI) had its target price boosted by analysts at Craig Hallum from $13.00 to $17.00 in a research report issued to clients and investors on Monday, May 15th, StockTargetPrices.com reports. The firm presently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price would suggest a potential upside of 4.94% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Credit Suisse Group lifted their price target on shares of Boingo Wireless from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Benchmark Co. began coverage on shares of Boingo Wireless in a research note on Tuesday, April 25th. They set a “buy” rating and a $18.00 price target on the stock. Lake Street Capital reiterated a “buy” rating and set a $14.00 price target (up from $12.00) on shares of Boingo Wireless in a research note on Wednesday, March 8th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $15.00 price target on shares of Boingo Wireless in a research note on Friday, March 10th. Finally, Jefferies Group LLC lifted their price target on shares of Boingo Wireless from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $14.59.
Boingo Wireless (NASDAQ:WIFI) traded up 2.73% on Monday, reaching $16.20. The company’s stock had a trading volume of 624,126 shares. The firm’s market cap is $631.54 million. Boingo Wireless has a 12 month low of $8.10 and a 12 month high of $17.10. The firm has a 50 day moving average of $15.73 and a 200 day moving average of $13.19.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. The business had revenue of $44.30 million during the quarter, compared to analysts’ expectations of $41.25 million. Boingo Wireless had a negative net margin of 14.32% and a negative return on equity of 24.60%. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.27) EPS. Analysts anticipate that Boingo Wireless will post ($0.65) earnings per share for the current year.
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In other news, insider Derek Peterson sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $16.02, for a total transaction of $240,300.00. Following the transaction, the insider now directly owns 42,664 shares in the company, valued at $683,477.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Tom Tracey sold 25,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $15.75, for a total transaction of $393,750.00. Following the sale, the vice president now directly owns 67,316 shares in the company, valued at approximately $1,060,227. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 432,777 shares of company stock worth $6,913,342. Company insiders own 7.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Virginia Retirement Systems ET AL acquired a new stake in shares of Boingo Wireless during the first quarter valued at about $134,000. Cambria Investment Management L.P. acquired a new stake in shares of Boingo Wireless during the first quarter valued at about $136,000. Reliance Trust Co. of Delaware increased its stake in shares of Boingo Wireless by 9.6% in the first quarter. Reliance Trust Co. of Delaware now owns 11,339 shares of the technology company’s stock valued at $147,000 after buying an additional 990 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of Boingo Wireless during the first quarter valued at about $159,000. Finally, Stifel Financial Corp increased its stake in shares of Boingo Wireless by 3.7% in the first quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock valued at $205,000 after buying an additional 559 shares during the period. 89.31% 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. 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.
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