Boingo Wireless, Inc. (NASDAQ:WIFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $24.00 target price on the technology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.04% from the stock’s current price.

According to Zacks, “Boingo Wireless, Inc. is a Wi-Fi software and services provider. Boingo users can access the mobile Internet via Boingo Network locations that include the airports, hotel chains, caf├ęs and coffee shops, restaurants, convention centers and metropolitan hot zones. The company provides its solutions to individual users and partners consisting of telecom operators, network operators, cable companies, technology companies, enterprise software and services companies, and communications companies. Boingo Wireless, Inc. is headquartered in Los Angeles, California. “

WIFI has been the topic of a number of other research reports. Craig Hallum boosted their target price on shares of Boingo Wireless from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. BidaskClub lowered shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 target price (up previously from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $24.00 target price (up previously from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Finally, Benchmark Co. boosted their target price on shares of Boingo Wireless from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. Boingo Wireless has an average rating of “Buy” and an average price target of $19.15.

Boingo Wireless (NASDAQ WIFI) traded down 1.74% on Thursday, reaching $21.42. 236,610 shares of the company’s stock were exchanged. The stock’s market capitalization is $859.13 million. Boingo Wireless has a 12 month low of $9.39 and a 12 month high of $22.14. The firm has a 50 day moving average of $20.72 and a 200 day moving average of $16.58.

Boingo Wireless (NASDAQ:WIFI) last announced its earnings results on Thursday, August 3rd. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). Boingo Wireless had a negative return on equity of 25.82% and a negative net margin of 13.85%. The company had revenue of $49.00 million for the quarter, compared to the consensus estimate of $46.23 million. During the same period last year, the firm posted ($0.19) EPS. The company’s revenue was up 25.3% compared to the same quarter last year. Equities analysts predict that Boingo Wireless will post ($0.64) earnings per share for the current fiscal year.

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In other news, Director Michael Finley sold 14,493 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $18.08, for a total value of $262,033.44. Following the sale, the director now owns 60,498 shares in the company, valued at approximately $1,093,803.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Hagan sold 75,000 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $15.01, for a total transaction of $1,125,750.00. Following the completion of the sale, the chief executive officer now owns 621,853 shares in the company, valued at approximately $9,334,013.53. The disclosure for this sale can be found here. Insiders sold a total of 845,778 shares of company stock worth $14,038,499 in the last three months. Insiders own 7.70% of the company’s stock.

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted 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 purchasing an additional 389,195 shares in the last quarter. Vanguard Group Inc. boosted 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 purchasing an additional 326,791 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Boingo Wireless by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,952,425 shares of the technology company’s stock valued at $29,209,000 after purchasing an additional 145,796 shares in the last quarter. Russell Investments Group Ltd. boosted 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 purchasing an additional 484,061 shares in the last quarter. Finally, Hood River Capital Management LLC boosted 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 purchasing an additional 383,174 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Boingo Wireless Company Profile

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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Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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