Shares of Boingo Wireless Inc (NASDAQ:WIFI) have been given an average recommendation of “Buy” by the eleven brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.15.
Several equities analysts have recently weighed in on WIFI shares. BidaskClub raised Boingo Wireless from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, July 5th. Craig Hallum lifted their price objective on Boingo Wireless from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 price objective (up from $17.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $24.00 price objective (up from $18.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th.
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In related news, CFO Peter Hovenier sold 18,552 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $21.31, for a total transaction of $395,343.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Hagan sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $15.03, for a total value of $375,750.00. Following the transaction, the chief executive officer now directly owns 621,853 shares in the company, valued at $9,346,450.59. The disclosure for this sale can be found here. Insiders have sold a total of 645,778 shares of company stock worth $11,062,749 over the last three months. 7.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position 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 worth $34,860,000 after acquiring an additional 389,195 shares in the last quarter. Vanguard Group Inc. lifted its position 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 worth $30,563,000 after acquiring an additional 326,791 shares in the last quarter. Dimensional Fund Advisors LP lifted its position 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 worth $29,209,000 after acquiring an additional 145,796 shares in the last quarter. Russell Investments Group Ltd. lifted its position 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 worth $18,538,000 after acquiring an additional 484,061 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its position in Boingo Wireless by 58.1% during the 2nd quarter. Hood River Capital Management LLC now owns 1,043,219 shares of the technology company’s stock worth $15,607,000 after acquiring an additional 383,174 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boingo Wireless (WIFI) traded up 0.23% during mid-day trading on Thursday, reaching $22.17. 429,885 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $21.14 and a 200 day moving average price of $17.00. Boingo Wireless has a 52 week low of $9.39 and a 52 week high of $22.58. The stock’s market cap is $889.22 million.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $49.00 million during the quarter, compared to analyst estimates of $46.23 million. Boingo Wireless had a negative net margin of 16.02% and a negative return on equity of 34.75%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share. Equities research analysts predict that Boingo Wireless will post ($0.62) EPS for the current year.
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.
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