Zacks Investment Research lowered shares of Boingo Wireless (NASDAQ:WIFI) from a hold rating to a sell rating in a research note released on Saturday, January 6th.
According to Zacks, “Boingo Wireless, Inc. is a Wi-Fi software and services provider. Boingo users can access the mobile Internet via Boingo Network locations that include the airports, hotel chains, cafés and coffee shops, restaurants, convention centers and metropolitan hot zones. The company provides its solutions to individual users and partners consisting of telecom operators, network operators, cable companies, technology companies, enterprise software and services companies, and communications companies. Boingo Wireless, Inc. is headquartered in Los Angeles, California. “
Other analysts have also issued reports about the company. BidaskClub lowered Boingo Wireless from a hold rating to a sell rating in a research report on Thursday, January 4th. Craig Hallum boosted their target price on Boingo Wireless from $24.00 to $28.00 and gave the company a buy rating in a research report on Friday, November 3rd. Credit Suisse Group boosted their price objective on Boingo Wireless from $24.00 to $26.00 and gave the stock an outperform rating in a report on Friday, November 3rd. Oppenheimer reissued a buy rating and set a $30.00 price objective on shares of Boingo Wireless in a report on Wednesday, November 15th. Finally, Jefferies Group boosted their price objective on Boingo Wireless from $20.00 to $27.00 and gave the stock a buy rating in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Boingo Wireless has an average rating of Buy and a consensus target price of $23.94.
Shares of Boingo Wireless (WIFI) opened at $22.32 on Friday. The firm has a market capitalization of $910.55, a price-to-earnings ratio of -38.48 and a beta of 0.53. Boingo Wireless has a 52-week low of $10.46 and a 52-week high of $25.99. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.09.
Boingo Wireless (NASDAQ:WIFI) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. The firm had revenue of $53.66 million for the quarter, compared to the consensus estimate of $50.22 million. Boingo Wireless had a negative return on equity of 23.62% and a negative net margin of 11.75%. The business’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) EPS. analysts forecast that Boingo Wireless will post -0.58 earnings per share for the current fiscal year.
In other Boingo Wireless news, insider Dawn Callahan sold 25,000 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $25.10, for a total transaction of $627,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Peter Hovenier sold 10,000 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $237,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,437 shares of company stock worth $2,317,085. 7.70% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Gotham Asset Management LLC purchased a new stake in shares of Boingo Wireless in the second quarter worth $237,000. Invictus RG bought a new position in Boingo Wireless in the third quarter valued at $338,000. Hood River Capital Management LLC increased its stake in Boingo Wireless by 58.1% in the second quarter. Hood River Capital Management LLC now owns 1,043,219 shares of the technology company’s stock valued at $15,607,000 after acquiring an additional 383,174 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Boingo Wireless by 47.2% in the third quarter. Ameriprise Financial Inc. now owns 178,795 shares of the technology company’s stock valued at $3,830,000 after acquiring an additional 57,307 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Boingo Wireless in the third quarter valued at $262,000. Institutional investors own 89.96% of the company’s stock.
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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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