Boingo Wireless, Inc. (WIFI) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Boingo Wireless, Inc. (NASDAQ:WIFI) have received an average rating of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.62.
A number of equities research analysts have recently commented on the company. Craig Hallum increased their target price on Boingo Wireless from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research cut Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Wednesday. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $24.00 price objective (up from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 price objective (up from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Finally, Credit Suisse Group increased their price objective on Boingo Wireless from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd.
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Boingo Wireless (WIFI) traded up $0.46 on Monday, reaching $22.37. The company’s stock had a trading volume of 718,200 shares, compared to its average volume of 332,046. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.09. Boingo Wireless has a twelve month low of $10.46 and a twelve month high of $25.99.
Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $53.66 million during the quarter, compared to the consensus estimate of $50.22 million. Boingo Wireless had a negative return on equity of 14.76% and a negative net margin of 6.04%. The firm’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) earnings per share. equities analysts predict that Boingo Wireless will post -0.59 earnings per share for the current year.
In other news, VP Tom Tracey sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $20.45, for a total value of $204,500.00. Following the transaction, the vice president now owns 34,868 shares of the company’s stock, valued at $713,050.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Finley sold 7,500 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $19.34, for a total value of $145,050.00. Following the completion of the transaction, the director now directly owns 52,998 shares in the company, valued at approximately $1,024,981.32. The disclosure for this sale can be found here. Insiders sold 146,285 shares of company stock worth $3,003,816 in the last ninety days. Corporate insiders own 7.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in Boingo Wireless by 20.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,330,200 shares of the technology company’s stock valued at $34,860,000 after purchasing an additional 389,195 shares during the period. Vanguard Group Inc. raised its stake in Boingo Wireless by 19.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,042,944 shares of the technology company’s stock valued at $30,563,000 after purchasing an additional 326,791 shares during the period. Dimensional Fund Advisors LP raised its stake in Boingo Wireless by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,952,425 shares of the technology company’s stock valued at $29,209,000 after purchasing an additional 145,796 shares during the period. Russell Investments Group Ltd. raised its stake in Boingo Wireless by 64.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,239,122 shares of the technology company’s stock valued at $18,538,000 after purchasing an additional 484,061 shares during the period. Finally, Hood River Capital Management LLC raised its stake in Boingo Wireless by 2.2% during the 3rd quarter. Hood River Capital Management LLC now owns 1,065,768 shares of the technology company’s stock valued at $22,775,000 after purchasing an additional 22,549 shares during the period. 88.74% 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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