Boingo Wireless Inc (WIFI) Receives $21.79 Consensus Price Target from Brokerages
Shares of Boingo Wireless Inc (NASDAQ:WIFI) have earned an average recommendation of “Buy” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $21.79.
Several research analysts have commented on WIFI shares. BidaskClub upgraded Boingo Wireless from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, October 5th. Craig Hallum lifted their price target on Boingo Wireless from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Credit Suisse Group lifted their price target on Boingo Wireless from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, Oppenheimer reiterated a “buy” rating and set a $30.00 price objective on shares of Boingo Wireless in a research note on Wednesday, November 15th.
In related news, insider Dawn Callahan sold 11,437 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $22.85, for a total transaction of $261,335.45. Following the completion of the sale, the insider now directly owns 11,370 shares of the company’s stock, valued at $259,804.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Peter Hovenier sold 10,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $237,500. The disclosure for this sale can be found here. Insiders sold a total of 96,437 shares of company stock valued at $2,317,085 in the last three months. Insiders own 7.70% of the company’s stock.
Shares of Boingo Wireless (WIFI) traded down $0.82 on Tuesday, reaching $22.50. The company’s stock had a trading volume of 276,685 shares, compared to its average volume of 337,839. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market capitalization of $940.33, a PE ratio of -38.79 and a beta of 0.52. Boingo Wireless has a fifty-two week low of $10.46 and a fifty-two week high of $25.99.
Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. Boingo Wireless had a negative return on equity of 23.62% and a negative net margin of 11.75%. The business had revenue of $53.66 million during the quarter, compared to analysts’ expectations of $50.22 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. The business’s quarterly revenue was up 31.5% on a year-over-year basis. equities research analysts forecast that Boingo Wireless will post -0.58 EPS for the current year.
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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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