Boingo Wireless Inc (NASDAQ:WIFI) has received an average recommendation of “Buy” from the eleven research firms that are covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $32.71.
Several research firms recently weighed in on WIFI. Jefferies Financial Group lifted their price target on shares of Boingo Wireless from $33.00 to $38.00 and gave the company a “buy” rating in a report on Monday, August 20th. BidaskClub upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Roth Capital set a $32.00 price objective on Boingo Wireless and gave the company a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. Finally, Craig Hallum raised their price objective on Boingo Wireless from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd.
NASDAQ:WIFI opened at $32.16 on Monday. The firm has a market capitalization of $1.40 billion, a P/E ratio of -65.63 and a beta of 0.58. Boingo Wireless has a twelve month low of $20.02 and a twelve month high of $34.01. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.07.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.19. The business had revenue of $59.60 million for the quarter, compared to analysts’ expectations of $56.52 million. Boingo Wireless had a negative net margin of 2.44% and a negative return on equity of 5.51%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) earnings per share. analysts predict that Boingo Wireless will post -0.17 earnings per share for the current fiscal year.
In other news, CMO Dawn Callahan sold 25,000 shares of Boingo Wireless stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $23.42, for a total value of $585,500.00. Following the completion of the transaction, the chief marketing officer now owns 50,654 shares of the company’s stock, valued at approximately $1,186,316.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Hagan sold 59,500 shares of Boingo Wireless stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $23.79, for a total value of $1,415,505.00. Following the completion of the transaction, the chief executive officer now directly owns 684,870 shares of the company’s stock, valued at approximately $16,293,057.30. The disclosure for this sale can be found here. Insiders have sold 445,682 shares of company stock valued at $11,639,980 in the last three months. Insiders own 3.80% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of WIFI. Granite Investment Partners LLC raised its position in shares of Boingo Wireless by 12.1% in the 1st quarter. Granite Investment Partners LLC now owns 587,086 shares of the technology company’s stock worth $14,542,000 after purchasing an additional 63,371 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Boingo Wireless in the 1st quarter worth about $213,000. Hood River Capital Management LLC raised its position in shares of Boingo Wireless by 22.4% in the 1st quarter. Hood River Capital Management LLC now owns 1,414,116 shares of the technology company’s stock worth $35,028,000 after purchasing an additional 258,883 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Boingo Wireless by 7.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 207,494 shares of the technology company’s stock worth $5,140,000 after purchasing an additional 15,144 shares during the last quarter. Finally, EULAV Asset Management purchased a new position in shares of Boingo Wireless in the 1st quarter worth about $485,000. 95.70% of the stock is owned by hedge funds and other institutional investors.
Boingo Wireless Company Profile
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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