Jefferies Financial Group Weighs in on Boingo Wireless Inc’s Q3 2018 Earnings (WIFI)

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Boingo Wireless Inc (NASDAQ:WIFI) – Equities research analysts at Jefferies Financial Group boosted their Q3 2018 EPS estimates for shares of Boingo Wireless in a research note issued to investors on Monday, August 20th. Jefferies Financial Group analyst S. Goldman now forecasts that the technology company will earn $0.00 per share for the quarter, up from their prior estimate of ($0.01). Jefferies Financial Group currently has a “Buy” rating and a $38.00 target price on the stock.

Several other brokerages have also commented on WIFI. BidaskClub raised Boingo Wireless from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Roth Capital set a $32.00 price target on Boingo Wireless and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research raised Boingo Wireless from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. ValuEngine raised Boingo Wireless from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 11th. Finally, Craig Hallum boosted their price target on Boingo Wireless from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Boingo Wireless has a consensus rating of “Buy” and an average price target of $31.86.

Shares of NASDAQ:WIFI opened at $31.35 on Tuesday. The company has a market cap of $1.29 billion, a PE ratio of -64.14 and a beta of 0.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.43 and a current ratio of 0.43. Boingo Wireless has a 12 month low of $19.07 and a 12 month high of $33.20.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.19. The business had revenue of $59.60 million for the quarter, compared to analyst estimates of $56.52 million. Boingo Wireless had a negative return on equity of 5.51% and a negative net margin of 2.44%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.20) EPS.

In related news, CEO David Hagan sold 59,500 shares of Boingo Wireless stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $23.79, for a total transaction of $1,415,505.00. Following the completion of the transaction, the chief executive officer now directly owns 684,870 shares in the company, valued at approximately $16,293,057.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Dawn Callahan sold 25,000 shares of Boingo Wireless stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $23.42, for a total value of $585,500.00. Following the transaction, the chief marketing officer now owns 50,654 shares of the company’s stock, valued at $1,186,316.68. The disclosure for this sale can be found here. Insiders have sold a total of 415,729 shares of company stock valued at $10,697,359 over the last 90 days. Insiders own 3.80% of the company’s stock.

Several institutional investors have recently modified their holdings of WIFI. NJ State Employees Deferred Compensation Plan raised its holdings in Boingo Wireless by 5.0% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 42,000 shares of the technology company’s stock valued at $949,000 after acquiring an additional 2,000 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in Boingo Wireless by 25.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 13,728 shares of the technology company’s stock valued at $310,000 after acquiring an additional 2,754 shares during the last quarter. Barclays PLC raised its holdings in Boingo Wireless by 17.3% in the 1st quarter. Barclays PLC now owns 18,926 shares of the technology company’s stock valued at $469,000 after acquiring an additional 2,795 shares during the last quarter. A.R.T. Advisors LLC raised its holdings in Boingo Wireless by 11.6% in the 1st quarter. A.R.T. Advisors LLC now owns 26,934 shares of the technology company’s stock valued at $667,000 after acquiring an additional 2,800 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust raised its holdings in Boingo Wireless by 17.6% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the technology company’s stock valued at $452,000 after acquiring an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 95.98% of the company’s stock.

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. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.

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Earnings History and Estimates for Boingo Wireless (NASDAQ:WIFI)

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