Boingo Wireless, Inc. (NASDAQ:WIFI) – Equities research analysts at Oppenheimer decreased their FY2018 EPS estimates for shares of Boingo Wireless in a research note issued on Wednesday, Zacks Investment Research reports. Oppenheimer analyst T. Horan now anticipates that the technology company will earn ($0.33) per share for the year, down from their previous forecast of ($0.28). Oppenheimer has a “Buy” rating and a $30.00 price target on the stock. Oppenheimer also issued estimates for Boingo Wireless’ FY2019 earnings at ($0.15) EPS.
Several other research firms also recently weighed in on WIFI. Craig Hallum upped their price objective on shares of Boingo Wireless from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 5th. Jefferies Group reissued a “buy” rating and issued a $20.00 price target (up from $17.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, October 5th. Finally, Credit Suisse Group upped their price target on shares of Boingo Wireless from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Boingo Wireless has a consensus rating of “Hold” and an average price target of $22.04.
Boingo Wireless (NASDAQ:WIFI) traded down $0.98 during mid-day trading on Friday, reaching $23.17. 348,782 shares of the company traded hands, compared to its average volume of 341,913. Boingo Wireless has a 1-year low of $10.46 and a 1-year high of $25.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.50 and a quick ratio of 0.50.
Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate 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 net margin of 11.75% and a negative return on equity of 23.62%. The company’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of WIFI. UBS Asset Management Americas Inc. acquired a new position in shares of Boingo Wireless in the 1st quarter valued at about $159,000. American International Group Inc. increased its holdings in shares of Boingo Wireless by 7.1% in the 1st quarter. American International Group Inc. now owns 21,925 shares of the technology company’s stock valued at $285,000 after purchasing an additional 1,444 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Boingo Wireless by 4.8% in the 1st quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock valued at $343,000 after purchasing an additional 1,200 shares during the period. Teachers Advisors LLC increased its holdings in shares of Boingo Wireless by 2.8% in the 1st quarter. Teachers Advisors LLC now owns 96,931 shares of the technology company’s stock valued at $1,259,000 after purchasing an additional 2,664 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in Boingo Wireless by 16.5% in the first quarter. TIAA CREF Investment Management LLC now owns 257,143 shares of the technology company’s stock worth $3,340,000 after buying an additional 36,344 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.
In other news, CFO Peter Hovenier sold 18,552 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $21.31, for a total value of $395,343.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Derek Peterson sold 50,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $20.80, for a total value of $1,040,000.00. Following the completion of the transaction, the insider now owns 60,496 shares in the company, valued at approximately $1,258,316.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,552 shares of company stock worth $2,913,093. Corporate insiders own 7.70% of the company’s stock.
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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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