ValuEngine upgraded shares of Boingo Wireless (NASDAQ:WIFI) from a sell rating to a hold rating in a report released on Friday, ValuEngine reports.
Other research analysts have also recently issued reports about the company. BidaskClub cut Boingo Wireless from a sell rating to a strong sell rating in a research report on Saturday, June 29th. Oppenheimer dropped their target price on Boingo Wireless from $39.00 to $32.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Zacks Investment Research cut Boingo Wireless from a buy rating to a hold rating in a research report on Thursday, May 16th. Northland Securities assumed coverage on Boingo Wireless in a research report on Monday, April 22nd. They issued a buy rating and a $30.00 target price on the stock. Finally, Craig Hallum reissued a buy rating and issued a $29.00 target price (up from $28.00) on shares of Boingo Wireless in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $29.78.
Boingo Wireless stock opened at $13.20 on Friday. The stock has a market capitalization of $625.03 million, a PE ratio of -440.00 and a beta of 1.01. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s fifty day simple moving average is $17.77. Boingo Wireless has a one year low of $12.60 and a one year high of $35.98.
Boingo Wireless (NASDAQ:WIFI) last announced its earnings results on Wednesday, May 8th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $66.47 million during the quarter, compared to analysts’ expectations of $65.74 million. Boingo Wireless had a negative return on equity of 4.49% and a negative net margin of 1.88%. As a group, research analysts anticipate that Boingo Wireless will post -0.4 earnings per share for the current fiscal year.
In other news, Director David Hagan sold 98,346 shares of Boingo Wireless stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $18.15, for a total transaction of $1,784,979.90. Following the transaction, the director now directly owns 1,056,229 shares of the company’s stock, valued at approximately $19,170,556.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Derek Peterson sold 11,628 shares of Boingo Wireless stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $21.77, for a total value of $253,141.56. Following the transaction, the insider now directly owns 57,447 shares in the company, valued at $1,250,621.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,756 shares of company stock worth $2,713,919. Insiders own 3.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Swiss National Bank increased its position in Boingo Wireless by 2.5% during the 2nd quarter. Swiss National Bank now owns 79,350 shares of the technology company’s stock valued at $1,426,000 after buying an additional 1,900 shares in the last quarter. Stephens Investment Management Group LLC increased its position in Boingo Wireless by 6.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 694,238 shares of the technology company’s stock valued at $12,475,000 after buying an additional 43,988 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Boingo Wireless by 25.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,756 shares of the technology company’s stock valued at $193,000 after buying an additional 2,216 shares in the last quarter. First Trust Advisors LP acquired a new position in Boingo Wireless during the 2nd quarter valued at about $312,000. Finally, NJ State Employees Deferred Compensation Plan increased its position in Boingo Wireless by 7.1% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 30,000 shares of the technology company’s stock valued at $539,000 after buying an additional 2,000 shares in the last quarter.
About Boingo Wireless
Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices worldwide. The company offers distributed antenna systems and small cell networks at managed and operated locations; high-speed Wi-Fi services for residential consumers on military bases and at multifamily properties; and wholesale Wi-Fi services to network operators, device manufacturers, technology companies, enterprise software and services companies, venue operators, and financial services companies, as well as retail Internet access services.
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