Analysts Set Boingo Wireless Inc (WIFI) PT at $28.19

Boingo Wireless Inc (NASDAQ:WIFI) has received a consensus rating of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $28.19.

A number of research analysts recently issued reports on WIFI shares. William Blair restated an “outperform” rating on shares of Boingo Wireless in a research report on Monday. Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Thursday, March 8th. Northland Securities restated a “buy” rating on shares of Boingo Wireless in a research report on Thursday, March 1st. BidaskClub downgraded shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $32.00 price objective (up previously from $27.00) on shares of Boingo Wireless in a research report on Wednesday, February 28th.

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In related news, CFO Peter Hovenier sold 50,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $27.60, for a total transaction of $1,380,000.00. Following the completion of the transaction, the chief financial officer now owns 31,730 shares in the company, valued at approximately $875,748. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Hagan sold 19,833 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $22.18, for a total transaction of $439,895.94. Following the transaction, the chief executive officer now owns 606,186 shares of the company’s stock, valued at approximately $13,445,205.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,352 shares of company stock valued at $9,439,720. Insiders own 7.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in shares of Boingo Wireless by 1.3% during the 2nd quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock worth $156,000 after purchasing an additional 135 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Boingo Wireless by 4.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,153 shares of the technology company’s stock worth $452,000 after purchasing an additional 1,178 shares during the last quarter. Aperio Group LLC raised its position in shares of Boingo Wireless by 21.4% during the 3rd quarter. Aperio Group LLC now owns 13,306 shares of the technology company’s stock worth $284,000 after purchasing an additional 2,342 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Boingo Wireless by 7.4% during the 4th quarter. Alliancebernstein L.P. now owns 52,300 shares of the technology company’s stock worth $1,177,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Boingo Wireless by 7.1% during the 4th quarter. Swiss National Bank now owns 61,550 shares of the technology company’s stock worth $1,385,000 after purchasing an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 91.80% of the company’s stock.

Boingo Wireless (NASDAQ:WIFI) traded down $0.30 during midday trading on Friday, reaching $27.19. 177,572 shares of the company were exchanged, compared to its average volume of 425,857. Boingo Wireless has a 52 week low of $12.27 and a 52 week high of $28.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.48 and a quick ratio of 0.50.

Boingo Wireless (NASDAQ:WIFI) last posted its earnings results on Tuesday, February 27th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $57.35 million during the quarter, compared to the consensus estimate of $54.48 million. Boingo Wireless had a negative net margin of 9.40% and a negative return on equity of 20.09%. equities analysts predict that Boingo Wireless will post -0.41 EPS for the current fiscal 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.

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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