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.
Several hedge funds and other institutional investors have recently bought and sold shares of WIFI. Teachers Advisors LLC boosted its holdings in shares of Boingo Wireless by 2.8% during the 1st quarter. Teachers Advisors LLC now owns 96,931 shares of the technology company’s stock worth $1,259,000 after buying an additional 2,664 shares during the period. Aperio Group LLC acquired a new stake in Boingo Wireless in the 2nd quarter valued at about $164,000. Schwab Charles Investment Management Inc. boosted its stake in Boingo Wireless by 22.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 63,100 shares of the technology company’s stock worth $944,000 after acquiring an additional 11,600 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Boingo Wireless by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 544,679 shares of the technology company’s stock worth $8,148,000 after acquiring an additional 77,800 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Boingo Wireless by 3.9% in the second quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after buying an additional 341 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.
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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