Boingo Wireless, Inc. (WIFI) Issues Earnings Results
Boingo Wireless, Inc. (NASDAQ:WIFI) issued its quarterly earnings data on Thursday. The technology company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04, Briefing.com reports. The firm had revenue of $53.66 million during the quarter, compared to analyst estimates of $50.22 million. Boingo Wireless had a negative return on equity of 23.73% and a negative net margin of 11.75%. The company’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) EPS. Boingo Wireless updated its FY17 guidance to -0.66-0.58 EPS.
Boingo Wireless (NASDAQ:WIFI) traded up $1.99 during mid-day trading on Friday, hitting $25.16. The stock had a trading volume of 1,581,634 shares, compared to its average volume of 377,585.
A number of brokerages have commented on WIFI. Jefferies Group LLC boosted their price objective on Boingo Wireless from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Friday. Credit Suisse Group boosted their price objective on Boingo Wireless from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday. Craig Hallum boosted their price objective on Boingo Wireless from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, October 5th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $24.00 price objective (up from $18.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $21.37.
In other news, CFO Peter Hovenier sold 18,552 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $21.31, for a total value of $395,343.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Hagan sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $18.39, for a total value of $1,103,400.00. Following the completion of the transaction, the chief executive officer now directly owns 621,853 shares of the company’s stock, valued at $11,435,876.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,778 shares of company stock valued at $5,291,249. 7.70% of the stock is currently owned by corporate insiders.
COPYRIGHT VIOLATION NOTICE: “Boingo Wireless, Inc. (WIFI) Issues Earnings Results” was first posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/11/03/boingo-wireless-inc-wifi-issues-earnings-results.html.
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.
Receive News & Ratings for Boingo Wireless Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boingo Wireless Inc. and related companies with MarketBeat.com's FREE daily email newsletter.