Boingo Wireless Upgraded by TheStreet to “Hold” (WIFI)
The analysts wrote, “Boingo Wireless (WIFI) has been upgraded by TheStreet Ratings from sell to hold. Among the primary strengths of the company is its revenue growth. At the same time, however, we also find weaknesses including feeble growth in the company’s earnings per share, deteriorating net income and disappointing return on equity.”
Boingo Wireless (NASDAQ:WIFI) traded down 2.71% during mid-day trading on Friday, hitting $6.82. 520,312 shares of the company’s stock traded hands. Boingo Wireless has a 52-week low of $5.06 and a 52-week high of $8.00. The stock has a 50-day moving average of $6.73 and a 200-day moving average of $6.45. The company’s market cap is $242.4 million.
Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). The company had revenue of $26.50 million for the quarter, compared to the consensus estimate of $24.98 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts expect that Boingo Wireless will post $-0.32 EPS for the current fiscal year.
Separately, analysts at Zacks upgraded shares of Boingo Wireless from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a $6.70 price target on the stock. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Boingo Wireless has an average rating of “Hold” and an average target price of $7.64.
Boingo Wireless, Inc (NASDAQ:WIFI) provides mobile Internet through wireless fidelity (Wi-Fi) networks globally.
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