Boingo Wireless, Inc. (WIFI) Given Average Rating of “Hold” by Brokerages
Boingo Wireless, Inc. (NASDAQ:WIFI) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.54.
Several research firms have commented on WIFI. Craig Hallum boosted their target price on shares of Boingo Wireless from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $24.00 target price (up from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and issued a $20.00 target price (up from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. ValuEngine raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Ladenburg Thalmann Financial Services boosted their target price on shares of Boingo Wireless from $16.85 to $18.50 and gave the stock a “buy” rating in a research report on Thursday, May 25th.
Boingo Wireless (NASDAQ:WIFI) traded up 1.18% during trading on Friday, hitting $21.39. 601,467 shares of the company traded hands. The firm has a 50 day moving average of $19.24 and a 200 day moving average of $15.64. Boingo Wireless has a one year low of $9.00 and a one year high of $22.00. The firm’s market cap is $857.93 million.
Boingo Wireless (NASDAQ:WIFI) last posted its earnings results on Thursday, August 3rd. The technology company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). The business had revenue of $49.00 million during the quarter, compared to the consensus estimate of $46.23 million. Boingo Wireless had a negative return on equity of 25.82% and a negative net margin of 13.85%. The business’s revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share. On average, analysts expect that Boingo Wireless will post ($0.64) earnings per share for the current fiscal year.
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In other Boingo Wireless news, CEO David Hagan sold 75,000 shares of the stock in a transaction on Friday, July 7th. The shares were sold at an average price of $14.59, for a total value of $1,094,250.00. Following the completion of the sale, the chief executive officer now directly owns 621,853 shares of the company’s stock, valued at approximately $9,072,835.27. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Derek Peterson sold 50,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $20.80, for a total transaction of $1,040,000.00. Following the completion of the sale, the insider now directly owns 60,496 shares of the company’s stock, valued at $1,258,316.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 952,226 shares of company stock valued at $15,573,156. 7.70% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in WIFI. Castleark Management LLC acquired a new position in shares of Boingo Wireless in the 2nd quarter valued at $8,995,000. Russell Investments Group Ltd. raised its stake in shares of Boingo Wireless by 64.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,239,122 shares of the technology company’s stock valued at $18,538,000 after buying an additional 484,061 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Boingo Wireless by 20.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,330,200 shares of the technology company’s stock valued at $34,860,000 after buying an additional 389,195 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Boingo Wireless by 58.1% in the 2nd quarter. Hood River Capital Management LLC now owns 1,043,219 shares of the technology company’s stock valued at $15,607,000 after buying an additional 383,174 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Boingo Wireless by 19.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,042,944 shares of the technology company’s stock valued at $30,563,000 after buying an additional 326,791 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.
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. 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.
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