Boingo Wireless, Inc. (WIFI) Price Target Increased to $28.00 by Analysts at Craig Hallum
Boingo Wireless, Inc. (NASDAQ:WIFI) had its price target lifted by Craig Hallum from $24.00 to $28.00 in a report issued on Friday. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price would indicate a potential upside of 26.64% from the company’s current price.
Several other equities analysts also recently weighed in on the company. 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 research note on Thursday, October 5th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $24.00 target price (up previously from $18.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and set a $20.00 target price (up previously from $17.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Benchmark Co. increased their target price on Boingo Wireless from $18.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, BidaskClub cut Boingo Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. Boingo Wireless has a consensus rating of “Buy” and an average target price of $19.59.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Boingo Wireless had a negative net margin of 13.85% and a negative return on equity of 25.82%. The firm had revenue of $49.00 million during the quarter, compared to analysts’ expectations of $46.23 million. During the same period in the previous year, the business earned ($0.19) earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis.
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In other news, VP Tom Tracey sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $18.45, for a total transaction of $461,250.00. Following the sale, the vice president now owns 38,276 shares in the company, valued at $706,192.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter Hovenier sold 18,552 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $21.31, for a total value of $395,343.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 270,778 shares of company stock worth $5,291,249. 7.70% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Gotham Asset Management LLC acquired a new stake in shares of Boingo Wireless during the second quarter worth $237,000. Hood River Capital Management LLC boosted its holdings in shares of Boingo Wireless by 58.1% during the second quarter. Hood River Capital Management LLC now owns 1,043,219 shares of the technology company’s stock worth $15,607,000 after purchasing an additional 383,174 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Boingo Wireless during the second quarter worth $2,271,000. EAM Investors LLC boosted its holdings in shares of Boingo Wireless by 254.2% during the second quarter. EAM Investors LLC now owns 247,281 shares of the technology company’s stock worth $3,699,000 after purchasing an additional 177,475 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC boosted its holdings in shares of Boingo Wireless by 410.2% during the second quarter. Intrinsic Edge Capital Management LLC now owns 391,745 shares of the technology company’s stock worth $5,861,000 after purchasing an additional 314,958 shares during the last quarter. Institutional investors and hedge funds own 88.63% 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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