Boingo Wireless, Inc. (NASDAQ:WIFI) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

A number of other brokerages have also weighed in on WIFI. Credit Suisse Group lifted their price objective on shares of Boingo Wireless from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Benchmark Co. started coverage on shares of Boingo Wireless in a report on Tuesday, April 25th. They set a “buy” rating and a $18.00 price objective for the company. Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, July 5th. Craig Hallum lifted their price objective on shares of Boingo Wireless from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, May 5th. Finally, Ladenburg Thalmann Financial Services lifted their price objective on shares of Boingo Wireless from $16.85 to $18.50 and gave the company a “buy” rating in a report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Boingo Wireless presently has a consensus rating of “Hold” and a consensus price target of $15.26.

Boingo Wireless (NASDAQ WIFI) opened at 15.39 on Wednesday. The stock’s market cap is $599.96 million. Boingo Wireless has a 12 month low of $8.10 and a 12 month high of $17.10. The company’s 50 day moving average is $15.69 and its 200 day moving average is $13.65.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. Boingo Wireless had a negative net margin of 14.32% and a negative return on equity of 24.60%. The company had revenue of $44.30 million during the quarter, compared to analyst estimates of $41.25 million. During the same quarter last year, the business posted ($0.27) EPS. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, analysts anticipate that Boingo Wireless will post ($0.67) EPS for the current fiscal year.

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In other Boingo Wireless news, VP Tom Tracey sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $16.87, for a total transaction of $168,700.00. Following the transaction, the vice president now owns 40,022 shares of the company’s stock, valued at approximately $675,171.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek Peterson sold 14,970 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $16.54, for a total transaction of $247,603.80. Following the transaction, the insider now directly owns 45,555 shares in the company, valued at approximately $753,479.70. The disclosure for this sale can be found here. Insiders have sold a total of 757,777 shares of company stock worth $11,819,092 in the last three months. Insiders own 7.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of WIFI. Renaissance Technologies LLC increased its position in Boingo Wireless by 9.7% in the first quarter. Renaissance Technologies LLC now owns 1,941,005 shares of the technology company’s stock worth $25,214,000 after buying an additional 172,305 shares during the period. Vanguard Group Inc. increased its position in Boingo Wireless by 10.8% in the first quarter. Vanguard Group Inc. now owns 1,716,153 shares of the technology company’s stock worth $22,292,000 after buying an additional 167,407 shares during the period. Russell Investments Group Ltd. increased its position in Boingo Wireless by 23.1% in the first quarter. Russell Investments Group Ltd. now owns 755,061 shares of the technology company’s stock worth $9,808,000 after buying an additional 141,865 shares during the period. Dimensional Fund Advisors LP increased its position in Boingo Wireless by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,758,272 shares of the technology company’s stock worth $21,433,000 after buying an additional 128,538 shares during the period. Finally, Spark Investment Management LLC increased its position in Boingo Wireless by 107.1% in the first quarter. Spark Investment Management LLC now owns 242,500 shares of the technology company’s stock worth $3,150,000 after buying an additional 125,400 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

About Boingo Wireless

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.

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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