Lake Street Capital restated their buy rating on shares of Boingo Wireless (NASDAQ:WIFI) in a research note released on Friday morning, MarketBeat.com reports. The brokerage currently has a $34.00 target price on the technology company’s stock, up from their previous target price of $31.00.
Several other equities research analysts also recently commented on WIFI. BidaskClub raised Boingo Wireless from a hold rating to a buy rating in a report on Friday, July 6th. Zacks Investment Research raised Boingo Wireless from a sell rating to a hold rating in a report on Friday, July 20th. Craig Hallum increased their price objective on Boingo Wireless from $30.00 to $31.00 and gave the company a buy rating in a report on Thursday, August 2nd. Roth Capital set a $32.00 price objective on Boingo Wireless and gave the company a buy rating in a report on Thursday, August 2nd. Finally, Jefferies Financial Group raised their price target on Boingo Wireless from $33.00 to $38.00 and gave the company a buy rating in a report on Monday, August 20th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $37.25.
NASDAQ:WIFI opened at $24.65 on Friday. Boingo Wireless has a twelve month low of $20.02 and a twelve month high of $35.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -50.31 and a beta of 0.80.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Thursday, November 1st. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The company had revenue of $65.25 million during the quarter, compared to the consensus estimate of $63.32 million. Boingo Wireless had a negative return on equity of 2.58% and a negative net margin of 1.10%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. On average, sell-side analysts forecast that Boingo Wireless will post -0.17 earnings per share for the current fiscal year.
In other Boingo Wireless news, insider Dawn Callahan sold 29,953 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $31.47, for a total transaction of $942,620.91. Following the completion of the sale, the insider now owns 4,953 shares of the company’s stock, valued at approximately $155,870.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Hagan sold 19,833 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $30.96, for a total value of $614,029.68. Following the sale, the chief executive officer now directly owns 606,481 shares of the company’s stock, valued at approximately $18,776,651.76. The disclosure for this sale can be found here. Insiders have sold a total of 247,865 shares of company stock valued at $7,939,650 in the last ninety days. Insiders own 3.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new position in Boingo Wireless during the 2nd quarter worth $228,000. Bank of Montreal Can increased its position in Boingo Wireless by 557.7% during the 2nd quarter. Bank of Montreal Can now owns 10,529 shares of the technology company’s stock worth $238,000 after buying an additional 8,928 shares during the period. State Board of Administration of Florida Retirement System increased its position in Boingo Wireless by 38.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 11,916 shares of the technology company’s stock worth $269,000 after buying an additional 3,310 shares during the period. Sei Investments Co. bought a new position in Boingo Wireless during the 1st quarter worth $290,000. Finally, Fox Run Management L.L.C. bought a new position in Boingo Wireless during the 2nd quarter worth $302,000. 95.05% of the stock is owned by institutional investors and hedge funds.
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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