Boingo Wireless Inc. (WIFI) Receives Average Rating of “Buy” from Brokerages
Boingo Wireless Inc. (NASDAQ:WIFI) has received an average recommendation of “Buy” from the ten brokerages that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $11.23.
WIFI has been the topic of several analyst reports. Lake Street Capital initiated coverage on shares of Boingo Wireless in a research report on Monday, June 20th. They issued a “buy” rating and a $12.00 target price on the stock. Ladenburg Thalmann reaffirmed a “buy” rating and set a $12.25 price objective on shares of Boingo Wireless in a research report on Thursday, August 11th. Jefferies Group boosted their price objective on shares of Boingo Wireless from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Thursday, October 6th. Finally, Oppenheimer Holdings Inc. assumed coverage on shares of Boingo Wireless in a research report on Tuesday, September 13th. They set an “outperform” rating and a $12.00 price objective on the stock.
In other news, CMO Dawn Callahan sold 12,500 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $10.03, for a total value of $125,375.00. Following the completion of the sale, the chief marketing officer now directly owns 24,612 shares in the company, valued at $246,858.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Tom Tracey sold 3,750 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $8.44, for a total transaction of $31,650.00. Following the completion of the sale, the vice president now owns 46,299 shares of the company’s stock, valued at $390,763.56. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by company insiders.
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Several hedge funds have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Boingo Wireless by 6.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,519,715 shares of the company’s stock worth $22,476,000 after buying an additional 148,394 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Boingo Wireless by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,488,397 shares of the company’s stock worth $13,277,000 after buying an additional 13,267 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Boingo Wireless by 2.5% in the second quarter. Vanguard Group Inc. now owns 1,406,328 shares of the company’s stock worth $12,545,000 after buying an additional 33,690 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Boingo Wireless during the second quarter worth $6,678,000. Finally, Skylands Capital LLC boosted its stake in shares of Boingo Wireless by 4.8% in the second quarter. Skylands Capital LLC now owns 690,850 shares of the company’s stock worth $6,162,000 after buying an additional 31,700 shares during the last quarter. Institutional investors and hedge funds own 86.56% of the company’s stock.
Shares of Boingo Wireless (NASDAQ:WIFI) traded up 0.30% during trading on Wednesday, hitting $10.00. 56,560 shares of the stock were exchanged. Boingo Wireless has a 12-month low of $5.40 and a 12-month high of $10.38. The stock’s 50 day moving average is $9.20 and its 200-day moving average is $8.42. The stock’s market cap is $381.17 million.
Boingo Wireless (NASDAQ:WIFI) last released its earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. The business had revenue of $39.10 million for the quarter, compared to the consensus estimate of $38.94 million. Boingo Wireless had a negative net margin of 17.20% and a negative return on equity of 23.75%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) earnings per share. Equities research analysts anticipate that Boingo Wireless will post ($0.72) EPS for the current year.
About Boingo Wireless
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services for carriers. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices segment.
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