Roth Capital began coverage on shares of Boingo Wireless (NASDAQ:WIFI) in a research note released on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $29.00 price target on the technology company’s stock.
A number of other research firms also recently weighed in on WIFI. Oppenheimer raised their price target on Boingo Wireless and gave the stock an outperform rating in a research note on Friday, November 3rd. Jefferies Group raised their price target on Boingo Wireless from $20.00 to $27.00 and gave the stock a buy rating in a research note on Friday, November 3rd. Credit Suisse Group raised their price target on Boingo Wireless from $24.00 to $26.00 and gave the stock an outperform rating in a research note on Friday, November 3rd. BidaskClub raised Boingo Wireless from a sell rating to a hold rating in a research note on Thursday, December 21st. Finally, Zacks Investment Research downgraded Boingo Wireless from a hold rating to a sell rating in a research note on Saturday, January 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $24.50.
Shares of Boingo Wireless (NASDAQ:WIFI) opened at $22.88 on Wednesday. Boingo Wireless has a one year low of $10.46 and a one year 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 posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $53.66 million during the quarter, compared to the consensus estimate of $50.22 million. During the same period last year, the business earned ($0.15) EPS. The business’s quarterly revenue was up 31.5% on a year-over-year basis. sell-side analysts anticipate that Boingo Wireless will post -0.57 earnings per share for the current fiscal year.
In related news, CEO David Hagan sold 59,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $22.10, for a total value of $1,314,950.00. Following the transaction, the chief executive officer now directly owns 606,186 shares of the company’s stock, valued at approximately $13,396,710.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter Hovenier sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $24.51, for a total value of $612,750.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $245,100. The disclosure for this sale can be found here. Insiders sold a total of 175,770 shares of company stock worth $4,071,931 over the last three months. 7.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Gotham Asset Management LLC bought a new position in Boingo Wireless in the 2nd quarter worth approximately $237,000. Invictus RG bought a new position in Boingo Wireless in the 3rd quarter worth approximately $338,000. Ameriprise Financial Inc. increased its position in Boingo Wireless by 47.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 178,795 shares of the technology company’s stock worth $3,830,000 after buying an additional 57,307 shares during the period. Hood River Capital Management LLC increased its position in Boingo Wireless by 58.1% in 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 buying an additional 383,174 shares during the period. Finally, Trexquant Investment LP bought a new position in Boingo Wireless in the 3rd quarter worth approximately $262,000. 89.96% of the stock is currently owned by institutional investors.
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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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