Boingo Wireless (NASDAQ:WIFI) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.
Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of Boingo Wireless from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, August 20th. Roth Capital set a $32.00 price target on shares of Boingo Wireless and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. Craig Hallum boosted their price objective on shares of Boingo Wireless from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, ValuEngine upgraded shares of Boingo Wireless from a “buy” rating to a “strong-buy” rating in a report on Monday, June 11th. Nine analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $33.71.
Shares of NASDAQ:WIFI opened at $32.93 on Thursday. Boingo Wireless has a one year low of $20.02 and a one year high of $34.01. 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 (NASDAQ:WIFI) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.19. Boingo Wireless had a negative net margin of 2.44% and a negative return on equity of 5.51%. The company had revenue of $59.60 million during the quarter, compared to analysts’ expectations of $56.52 million. During the same quarter in the previous year, the company earned ($0.20) EPS. Boingo Wireless’s revenue was up 21.6% on a year-over-year basis. research analysts forecast that Boingo Wireless will post -0.17 EPS for the current year.
In related news, CFO Peter Hovenier sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $33.20, for a total transaction of $498,000.00. Following the completion of the transaction, the chief financial officer now owns 28,785 shares in the company, valued at $955,662. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Hagan sold 59,500 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $23.79, for a total transaction of $1,415,505.00. Following the transaction, the chief executive officer now 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. In the last 90 days, insiders have sold 470,467 shares of company stock valued at $12,468,419. Corporate insiders own 3.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of WIFI. State Board of Administration of Florida Retirement System acquired a new position in Boingo Wireless during the first quarter valued at approximately $213,000. Hood River Capital Management LLC boosted its holdings in shares of Boingo Wireless by 22.4% in the first quarter. Hood River Capital Management LLC now owns 1,414,116 shares of the technology company’s stock valued at $35,028,000 after buying an additional 258,883 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Boingo Wireless by 7.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 207,494 shares of the technology company’s stock valued at $5,140,000 after buying an additional 15,144 shares during the period. EULAV Asset Management acquired a new position in shares of Boingo Wireless in the first quarter valued at approximately $485,000. Finally, Northern Trust Corp boosted its holdings in shares of Boingo Wireless by 4.1% in the first quarter. Northern Trust Corp now owns 496,834 shares of the technology company’s stock valued at $12,306,000 after buying an additional 19,356 shares during the period. Hedge funds and other institutional investors own 95.70% 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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